Teo says that the ringgit’s strength is evident as it reached RM4.12 against the US dollar today. – Bernama photo
KUALA LUMPUR (Sept 26): The opposition’s call for the immediate dissolution of Parliament is unfounded, given the strong performance of Malaysia’s economy under the administration of the Madani government, said Deputy Communication Minister Teo Nie Ching.
She said that the ringgit’s strength is evident as it reached RM4.12 against the US dollar today.
“It is not just one factor that makes Malaysia the best-performing currency in the region. Numerous factors contribute to the strengthening of the ringgit. Bank Negara’s reserves have risen to US$117.6 billion, indicating growth in net exports and inflows of foreign capital.
“We can see that inflation is being managed effectively; in August, it fell to 1.9 per cent. This proves that the rationalisation of diesel subsidies has not significantly influenced inflation, highlighting the success of the government’s strategy,” she said.
She said this at a press conference after the Sponsorship Package presentation ceremony for the Malaysian Drone Racing Team for the Federation Aeronautique Internationale (FAI) 2024 World Drone Racing Championship here today.
According to Teo, another contributing factor is that foreign investors have remained net buyers in the Malaysian stock market, supported by the country’s increasingly positive export performance.
Therefore, she said, all parties should support the Madani government at a time when the ringgit is gaining strength and the country’s economy shows positive signs.
“I see no reason for the opposition to call for the Prime Minister (Datuk Seri Anwar Ibrahim) to dissolve Parliament. The people made their decision in the 15th General Election in 2022, and I hope everyone will continue to support the Madani government.
“This is the time to focus on economic issues so that the people can soon enjoy the benefits of a recovering economy,” she said.
The media previously reported that Bersatu Information Chief Datuk Razali Idris urged the Prime Minister to dissolve Parliament immediately to restore the mandate for the people to elect a new government.
Meanwhile, Teo, who is also the DAP Wanita chief, advised all parties involved in the Mahkota state by-election to utilise social media platforms ethically.
“Avoid playing up religious and racial issues, as community harmony is a vital asset for Malaysia in attracting foreign investors.
“Johor is one of the states that attracts significant interest from foreign investors, so it is crucial for us to demonstrate political stability within the Johor government,” she said.
The Mahkota by-election is a straight fight between BN candidate Syed Hussien Syed Abdullah and Perikatan Nasional’s (PN) Mohamad Haizan Jaafar.
It is being held following the death of the incumbent, Datuk Sharifah Azizah Syed Zain, 63, on Aug 2. – Bernama
