KUALA LUMPUR - Sentiments over the government policy is
 weighing on the ringgit, which has fallen to 1998 lows of
 4.1185 against the US dollar on Thursday.

Since July 30, the ringgit has weakened from 3.8190 to
4.1167 as at 10.57am on Thursday.

CIMB Group chairman Datuk Seri Nazir Razak said the
current sentiment continued to weigh on the ringgit.

He said CIMB Research analysts believed the ringgit was 
undervalued and should be trading at the 3.75 to the US$1.

Nazir said -- without advocating any policy stance -- that the 
govt has an array of policy responses including interest rates 
and capital controls, in managing the currency. - ANN

I stand for free speech, not ‘those people’

PUTRAJAYA: Nazir Razak stood on principle today in criticising the suspension of two newspapers. “It is not for those people (staff of The Edge weekly and The Edge Financial Daily)…I stand for the freedom of opinion, freedom of expression. That’s all.”
Nair, group chairman of CIMB and youngest brother of the prime minister, made his remark when speaking to reporters at the Aidilfitri open house hosted by former prime minister Abdullah Ahmad Badawi here today.
On Friday, the same day The Edge announced the three-month suspension of its publishing licence and that of its companion The Edge Financial Daily, Nazir had posted an image of The Edge, calling it “a pillar of our business community”.
“This (my stance) is not defending anyone…this is the principle of freedom of the media,” he said, according to Bernama.
Nazir has been outspoken on public affairs recently and held views that were seen to be at odds with his brother, who is implicated in the extensive reporting by The Edge group and Sarawak Report on the dubious financial affairs of 1Malaysia Development Bhd, which is RM42 billion in debt.
He had also challenged a statement from the Prime Minister’s Office which had alluded to inherited family wealth as accounting for the reportedly luxurious lifestyles of family members.
Despite his apparent differences with his eldest brother, Nazir told reporters everything was still all right within the family.
“I also have private conversations with my brother (Najib) but I will not share with you, lah…,” added Nazir, the Bernama report said.

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