save malaysia!
UBS admits top official’s gloomy outlook on Malaysian economy erroneous
savemalaysia
Publish date: Wed, 24 Apr 2019, 05:38 PM
KUALA LUMPUR, April 24 — Swiss banking giant UBS has admitted that its senior officer Kelvin Tay had made wrong assertions about Malaysia’s economy when he said that the country had a current account deficit.
According to a report by Malaysiakini, the bank’s Singaporean branch said Tay, UBS’ regional chief investment officer, had also erred in saying that the removal of the Goods and Services Tax meant a higher dependence on oil revenue, during a live interview with Bloomberg TV.
UBS Singapore’s corporate communications head Adeline Lee reportedly said that Tay’s mistakes were due to the confines of the short interview.
She added that UBS “regrets any misunderstandings” as a result of Tay’s comments.
Pakatan Harapan leaders have criticised Tay as well as Bloomberg TV for airing such an interview, in which they maintain the official gave wrong facts about Malaysia’s economy.
https://www.malaymail.com/news/malaysia/2019/04/24/ubs-admits-top-officials-gloomy-outlook-on-malaysias-economy-erroneous/1746488
More articles on save malaysia!
Ringgit breaches RM4.30, buoyed by oil prices and US dollar pressure pre-Fed decision
Created by savemalaysia | Sep 17, 2024
Kiwanis Malaysia organises video competition to boost organ donation awareness
Created by savemalaysia | Sep 17, 2024
Intel freezes German and Polish chip factory plans, Malaysia projects also affected
Created by savemalaysia | Sep 17, 2024
King’s upcoming China visit from Sept 19 to 22 to usher in new era of bilateral relations
Created by savemalaysia | Sep 17, 2024
Foreign investors netted RM217.6m in equities last week — MIDF
Created by savemalaysia | Sep 17, 2024
Malaysia Day marked with record-breaking 24m-long cake in Johor
Created by savemalaysia | Sep 17, 2024
Foreign funds channel RM218m net into Bursa ahead of this week’s US interest rate cut prospect
Created by savemalaysia | Sep 17, 2024
Discussions
Be the first to like this. Showing 15 of 15 comments
We are sick of all this so called Chief Analyst, analyst, investment head, Regional research manager etc etc ....
2019-04-24 19:58
So proud to know that our country has capable politician who is a professional with high calibre and able to stand up to the so called world class investment analyst/economist. Lets hope that Pakatan government continue to buck up its act and rope in professionals from various discipline to help propel our Malaysian economy going forward.
2019-04-24 22:41
anyway really a joker... CIO can make such simple error... aiyah never trust IBs really. Rating agency also cannot trust ones, they are the one that caused 2008 GFC don't forget
2019-04-24 22:42
no majority support no win election. Simple, when it comes to election quality doesn't matter, it's a matter of quantity. (number of votes count more than anything else).
2019-04-24 22:55
so all this while DAP shouting for "Malaysia for Malaysians" is just a gimmick? To cheat voters?
2019-04-24 22:58
It is pathetic that a company like UBS can have such a mediocre senior analyst who simply gave away comments without any facts and evidences.
The apology by UBS Adeline does not sound sincere at all, it does not help in any damage control either.
Besides, the excuse given by Adeline(due to the confines of short interview) sounds even more intrigue and vague. The length of interview has nothing to do with the professionalism of a senior analyst representing company like UBS and the likes.
I wonder what actions the Singapore Lee government will take if that kind of comments are hurled against them?
In conclusion, this is not due to misunderstanding nor negligence but a total disregards of professionalism and ethics. It should not happen in UBS Singapore or any similar company based in Asia, especially.
The relentless and baseless prejudice views and comments by these so-called senior analyst only make us smell rat, a systemic built up of tidal waves to wreck havoc on the financial markets where these companies can make tonnes of monies from the currency and equity markets.
The recent acts by these analysts only draw their companies on par with the notorious Goldman Sach who plays a major role in the 1MDB saga. By the way, doesn't it sounds funny and fishy where all these things originate from Singapore? Any coincidence?
As a reader of i3Investor, I have to voice my concerns because these people from UBS Singapore and the likes ( and the big power/deep state who is condoning them) are trying to disrupt the financial markets o f Malaysia to make immoral gains or with reasons only they themselves know.
2019-04-24 23:00
Post a Comment
Featured Posts
Latest Videos
Apps
Top Articles
1
3
4
6
Good Articles to Share
7
Good Articles to Share
Putin orders Russian army to grow by 180,000 soldiers to become 1.5 million-strong
8
Good Articles to Share
India gets US$386b funding for renewables target; Reliance, Adani pledge commitments
#
Stock
Score
Daily Stocks
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
MQ Trading Signals
Stock
Time
Signal
Duration
Stock
Time
Signal
Duration
Featured Advertisers / Partners
Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
qqq3
UBS so lousy one.
2019-04-24 18:12