Malaysia defends control

Malaysia defends control

KUALA LUMPUR (AP): Malaysia's deputy trade minister said foreign investors remain confident about the country's outlook despite criticism of government policies by the International Monetary Fund and foreign media organizations, a report said Sunday.

Kerk Choo Ting, deputy minister of international trade and industry, said Malaysia's ability to post a US$15 billion trade surplus last year and attract foreign investment over the past two years amid a regional economic slump shows it is on the right track, Bernama national news agency reported.

"Major investors like the United States, Japan, Taiwan, the European Union and Singapore continue to plow their money into Malaysia," he was quoted as saying.

Kerk dismissed attacks on Malaysia's use of currency controls by the Washington-based IMF and unnamed commentators who allegedly spoke out against the foreign exchange restrictions in broadcasts on CNN and CNBC, the report said.