Malaysia’s political turmoil drives away investors: Reuters

The political uncertainty in Malaysia after Prime Minister Muhyiddin Yassin resigned on Monday could drive away investors, say Reuters.

The news agency says investors’ perception matters because foreigners hold about 40% of Malaysia’s sovereign debt. 

It also says foreign money has been flowing out of the country as the pandemic and political instability have delayed economic planning and stalled attempts at tax reform.

The priority for investors is for a stable leader to emerge as the economic outlook turns cloudy, but the way through the political crisis is unclear, it says.