New York investors concerned about developments in Malaysia

KUALA LUMPUR: Investors in New York have raised concerns on the state of the economy in Malaysia, according to Fitch ratings managing director James McCormack.

"In my meetings at New York there were some questions on Malaysia and these came up a few times. But 1MDB is not quite a heated issue in New York than here locally," McCormack said at the Malaysian economic update forum 2015.

"From our perspective there are some concerns on the (state) of governance in Malaysia. But we I wouldn't say that we have learnt very much new in the 1MDB issue in  the perspective of governance," he said.

He added that corporate governance has been a factor that he weighed on Malaysia's credit rating for sometime, referring to the governance index that's published by the World Bank.

"But this is not new to us. The pressures are on the external side for the country for now," he said.