FOREIGN INVESTORS ADOPT 'WAIT-AND-SEE' ATTITUDE

TASEK GELUGOR (Malaysia), Sept 20 (Bernama) -- Foreign investors are
adopting a 'wait-and-see' approach following the uncertain socio-political
situation during the last three months.

Second Finance Minister, Nor Mohamed Yakcop, this has affected
investments in the short term.

"The effects are not serious because there were already huge investments
earlier. During the last three months, I have noticed that the investors are
adopting the wait-and-see attitude," he told reporters at the Majlis Penyampaian
Sijil Amal Jariah here Saturday.

Nor Mohamed was asked to comment on talks that foreign investors had pulled
out their investments following claims by Parti Keadilan adviser, Datuk Seri
Anwar Ibrahim, he would take over the government and become the prime
minister.

He said the government has taken various steps to assure foreign investors
that Malaysia's investment climate was still the best.

"The appointment of Najib Razak as finance minister was also
seen as positive by the investors," he said.

Nor Mohamed urged the various parties to set aside politics and worked
together to create the confidence and attract foreign investors back.

He said apart from a good investment climate, investors would also look at
other factors like the profit in the short and long term, infrastructure,
skilled manpower and a legal system that was efficient before investing in a
country.

On the RM1.3 billion contract to build the second Penang bridge, he said
the government has not received the feedback from UEM Builders Bhd.

"UEM is studying the matter. If it sees that the price is good, it will
accept the offer," he said, adding that negotiations could still be
held.

UEM Builders was given two weeks from Sept 8 to decide whether to accept
the offer.