YOU must be a bad person or in case of Phillip Capital, a very bad organisation to come up with a report which is not even skin deep. READ : Malaysia’s relevance waning among global investors due to lack of AI thrust, says Phillip Capital.
SKIN deep because it doesn't address the white elephant in the room, namely that the Malaysian market has gained a reputation where politically connected companies, and those with enough money can escape disclosure or punishment.
NOT only do they escape punishment, but they publicly and daringly tell the world, without uttering a single word that the Securities Commission and Bursa Malaysia are rent seeking poodles.
TAKE for instance, the case of Kenneth Vun Yun Liun, who publicly told the world that READ : His Past Regulatory Issues Have Been Resolved.
THIS comes following a March 2024 raid at Wisma Lien Hoe by the Securities Commission in what the Corporate Secrets portal described as a RM20 billion fraud on retail investors.
THE Securities Commission should enlighten Malaysia on how this RM20 billion fraud case was KAWTIM, in a manner Kenneth Vun Yun Liun can safely say his past is no longer in play.
IT doesn't stop there. Even minor players such Francis Leong Seng Wui of Revenue Group Bhd , can now overlord over Bursa Malaysia on what questions can or should be asked by the exchange.
JUST Google up on Francis Leong Seng Wui, whoes money lending license at Revenue Group is at stake if Bursa Malaysia would query Revenue Group on truthfulness of the following statement ; That the police had gone to the courts and won an order to remanded Francis Leong Seng Wui for ten days this year on some serious financial crime.
IT is not AI's fault that over a 15 year period the foreign equity participation on Bursa Malaysia has fallen from a decent peak of 25.1 per cent hold and have stayed at a pace setting historical low of 19 per cent since June 2025 right up till today.
PEOPLE didn't talk about AI that much eleven years ago, but recent data shows, that foreign equity outflow in Malaysia over a 11 year period, came out top in nine years and that READ : not only did the KLCI suffer negative returns over a 10 year period starting from 2014, you would have made more money by just keeping in your fixed deposit accounts even with the smallest bank in Malaysia.
HOW low can you go, if even the smallest bank in Malaysia can offer you better decade long returns over Bursa Malaysia?
DON'T blame it on AI, blame it on the selective governance by the SC and Bursa Malaysia.
AND oh if you are wondering why is it, I have Fahmi Fadzil's image and not that of Kenneth Vun Yun Liun...well because there is a PART 2 coming soon.
