BURSA Malaysia has rebounded after the change in prime minister but this upward trajectory is dependent on the new policies to be introduced, former prime minister Najib Razak said today.

He said since Muhyiddin Yassin resigned as prime minister on August 16, FTSE Bursa Malaysia KLCI index has gone up by 80 points in less than two weeks.

He, however, said investor confidence and economic recovery will depend on several factors such as bringing down the number of new Covid-19 infections.

“Investor confidence and economic recovery will continue to be stunted if the government fails to bring down the number of infections and reopen the economy,” he said in a post on Facebook.

“They also need to help businesses improve their cash flow, which has been affected due to the lockdown since May 12.”

The Pekan MP said Malaysia is still one of the top 10 countries in the world with the highest number of daily infections by population.

“As long as cases remain high, foreign and local investors will not invest in new businesses or expand their existing businesses even if the lockdown is relaxed,” he said.

Najib said with the new leadership of Ismail Sabri Yaakob, there is hope that the lives and livelihoods of the people will return to normal. “There is a way and there are solutions,” he added.

There are now 262,713 active Covid-19 cases nationwide. Daily cases have trended above five figures, logging 20,837 infections yesterday.

Since July 25, there have been more than 1,000 patients daily receiving intensive care. The death toll now stands at 14,553.

To date, 58% (13,580,934) of the adult population have received their second dose of Covid-19 vaccine while 79.6% (18,631,593) have been given their first jab. – August 25, 2021.