GEORGE TOWN, Jan 15 — The nationwide state of Emergency is creating uncertainty and will deter investors from Malaysia, InvestPenang executive director Datuk Seri Lee Kah Choon said today.
He cited laws can be promulgated without the need to go through the parliamentary process.
“The legitimate movement of investment proceeds or repatriation may be disputed,” he told Malay Mail when contacted.
He said investors frowned upon uncertainties under the Emergency as rules can be changed anytime without going through the necessary legal process.
“This is negative to Malaysia as rule-based commercial dealing has been a major selling point of Malaysia to investors,” he said.
As for the implementation of the movement control order (MCO) from January 13 to 26, Lee said the disruption to the industries were minimal this time around compared to the first one implemented in March last year.
“However, the authority must be willing to listen to businesses to finetune the SOPs,” he said.
He said there are still many inconsistencies in the current set of SOPs.