Fund manager says country's progress to advanced status hindered

KUALA LUMPUR: The decline in manufacturing activities is hindering Malaysia’s progress in becoming a developed nation, says a well-known fund manager.

“For us to reach developed-economy status, manufacturing must be emphasised and we are not doing that,” said Tan Teng Boo, managing director of Capital Dynamics Asset Management Sdn Bhd and fund manager of icapital.biz Bhd. Capital Dynamics manages icapital.biz, the only close-end fund listed on the Main Market of Bursa Malaysia.