TRAGICALLY, for Malaysia this comes at a time when we can actually pull a lot of investments that were earmarked for Indonesia but won't be going there because READ : Indonesia's ESG does not conform to Global standards.
WHY you think Elon Musk decided to give Indonesia the cold shoulder and come to Malaysia? The reason is, based on Indonesia's current ESG standards, which will guarantee that whatever batteries Tesla producers there will get squat ESG benefits in the USA.
SO for those of you (Malaysians) onTwitter who are kissing up to Indonesia when it comes to Elon Musk and attempting to put down the READ : Good work Anwar Ibrahim has done to bring Tesla Investments into Malaysia, please do your ESG homework first.
HOW is the economy losing out? Well just look at the Ringgit and the stock market. The Ringgit is now trading at RM4.65 to the US Dollar, while the stock market for the last three years have been stuck in a range of between 1,600 points and 1369 points.
AT a more micro level there is a co relation between the ever weakening ringgit and Malaysians refusal to spend money. READ : Private Consumption in Malaysia is slowing down.
WHY you think, Malaysians are hoarding money abroad and refusing to spend it at home? Well it is not because of the people we interact with daily or the strangers we observe daily but because the politicians especially from Perikatan Nasional has created a fear factor.
SO great is the fear, that we ignore the fact that what we encounter daily in our lives and what is devilishly portrayed on Tik Tok are miles apart.
IF we can be taken in by all this negativity, just put yourself in the shoes of foreigners who want to invest here but are now pissing in their pants when you mention MALAYSIA.
