Saturday February 2, 2013
Chua: Bursa will plunge if PR wins
By FOONG PEK YEE
KUALA LUMPUR: Bursa Malaysia will drop 500 points if Pakatan Rakyat wins the coming general election, said Datuk Seri Dr Chua Soi Lek.
The MCA president said any change in the government would bring political uncertainty and would have a direct impact on the national economy.
He said the impact of Pakatan Rakyat rule would be adversed as its dominant partner, PAS, had little or no interest in the economy.
He said PAS was bent on implementing its brand of hudud law and setting up an Islamic state.
“PAS has also mentioned that it will close Genting (Highlands) and the Bursa. All these will frighten investors, be they locals or foreigners,” he said after opening the 64th anniversary celebrations of the Federal Territory MCA here yesterday.
Dr Chua urged voters to assess the country's situation in a rational manner, taking into consideration its future before making a decision.
He said under the leadership of Prime Minister Datuk Seri Najib Tun Razak, the national economy experienced an upward trend with foreign direct investments at RM34bil in 2011 against RM5bil in 2009.
Dr Chua, who is a member of the National Economic Council, said Pakatan's populist policy of pledging to abolish tolls and PTPTN loans, providing free education and a RM4,000 minimum monthly household income for 3.8 million families, would cost the government RM200bil a year.
“If and when this is implemented, it will bankrupt the country within two years,” he cautioned.
Dr Chua thanked Najib and his deputy Tan Sri Muhyiddin Yassin for the mutual recognition for 157 tertiary institutions in Taiwan and 121 tertiary institutions in Malaysia as announced by the Higher Education Ministry on Thursday.
“This has opened up more avenues for Chinese-educated students to further their studies and return home to serve the country,” he said.