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Malaysia faces uphill task to attract family offices: Fund managers
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Local fund managers say Malaysia lacks the fundamental structures to attract the wealthy.
PHOTO: REUTERS
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KUALA LUMPUR – Malaysia’s recently announced proposal to attract the wealthy and family offices to the country will be challenging unless measures are taken to ensure ease of capital flow, tax incentives, infrastructure that supports a vibrant stock market and a stable ringgit, say fund managers.
Prime Minister Anwar Ibrahim said on June 19 that the Ministry of Finance and the Securities Commission will look at policies that will facilitate and attract family offices to Malaysia, though no details have been announced.
