Capital outflow from Malaysia – where to?


Much has been said about the capital outflows from Malaysia. But where exactly are Malaysian firms investing in?

The top 10 destinations outside the country for Malaysian investments in 2009 were:

  1. Singapore – RM5.8 billion
  2. Hong Kong – RM4.3b
  3. Mauritius – RM3.4b
  4. Indonesia – RM2.2b
  5. The Netherlands – RM1.9b
  6. United States – RM1.9b
  7. Cayman Islands(!) – RM1.8b
  8. Thailand – RM1.3b
  9. United Kingdom – RM1.0b
  10. Bahamas(!) – RM0.9b

In terms of sectors, the investments were in:

  • services (46 per cent)  i.e. oil and gas, banking and telecommunications services;
  • oil and gas (38 per cent); and
  • manufacturing (6 per cent) – mainly upstream and downstream activities in the palm oil sector

This information was contained in a reply from the International Trade and Industry Ministry in response to an oral question raised in Parliament by MP for Segambut Lim Lip Eng on 30 June 2010.

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What happended to Johor’s Islandar region?

Waiting for legoland to open?

It is a complete failure with white elephants on Nusajaya.

No wonder Jibby is giving away KTM land in Tanjung Pagar, as a concession for Singaporeans and Temasik holdings to pump money to iskandar region.


Ya, O, the next GE is crucial – make or break…

Insya Allah, PR will win but if BN wins again, then, pack and leave la by all means…

A UK friend initially was very interested to take up the programme, M’sia my 2nd Home but after a while in Malasia said the BN politics disgust him a lot and he even said there is no law in malasia except UMNO law…


Will transfer out RM12 million in stages to Singapore until the GE13. Right now, too risky with the way the pending loser in GE 13, UMNO/BN is politicking. Once PR wins, will immediately transfer the RM12 million back, though it is just a small amount only. This UMNO/BN Government really does not give the Rakyat confidence with their politickings, corruption and non stop bad news from the first day of 2010. I just wonder where I will be after the next GE. Much as I love Malaysia, can it gives me some hopes? UMNO/BN has become so hopeless. Just came… Read more »

Pala Richie

I agree with Gerakan K, the list is inaccurate. They miss Gerakan K’s 250K and also the Sarawakian Taib (family’s) millions, how come Canada is not in the list?

But why those investments felt threatened by opposition? Ya, right!, without Umno this country cannot progress.

By the way, to make 250K by commenting in blogs, takes lot of comments right? I am paid to comment, are you? how did you do that.


If you don’t leech, why flee or be afraid of? Whether it is 250K or millions or billlions, these leeches born from corrupt ill-conceived upbringing not worthy of calling themselves Malaysians can be assured of the day of accountability. Flee as far as they want, even to the depths of the Amazon rainforest. Karma has no boundaries dealing with these leeches digging their holes in the quicksand of self-conscience and shame. Where to hide? An example, see what happened to that (guy who) died without fully enjoying his mansion in Klang. You and I who don’t feel threatened by PR… Read more »

semuanya OK kot

I doubt the figures as they exclude (a) China (b) moneychanger “FDI”. It would be extremely intersting to know how much of the total was investment by the Government and GLCs themselves. We know tat they have invested in West Asia, for example.


Who cares? I’ve just seen LGE’s 3 promises for Putrajaya. If all I’ve got to look forward to is instant noodles then my capital’s going to flow out to anywhere but here. What happened to local elections and the repeal of the ISA and Printing and Presses Act?


Wondering how much of capital outflow are BLACK MONEY & MONEY LEECHED from the Rakyat (from corruptions) that the criminal owners are so fearful of PR prosecution of the corrupts.

(Any) illegal flee of such money proves how bloody corrupt … IN OUR MIDST still wanting to bleed the country to bankrupcy before PR takes over!

PR should find a legal means to get back these monies from these… wherever they may flee…!


Gerakan K

I don’t know how they calculate those figures but in year 2009, I have invested about RM250k in Singapore. The money transferred not in one lump sum but via many checks. How they know those figures ???

Capital outflow is due to imminent threat from the opposition.


Gerakan K, Finally the truth has prevailed. You don`t even have confidence in your own country despite your big mouth talk of BN competency and efficiency

Gerakan K

I just preparing for the worst case scenario if the moon capture our land …. I rather migrate ASAP without a second thought.

This is a common feeling between many people. Genting also invest heavily in Singapore and UK. Ex-Sugar King also “lari kuat-kuat”.


Gerakan K,
Why are you so afraid. After all you are already a moon



You failed to state the money taken out by the hundred of thousand of immigrants over the last couple of decades. It must be in trillions of ringgits ?


No wonder Singapore is projected to grow 13% this year! 🙂


Singapore and SM Lee Kuan Yew must be a very happy man every day and exceedingly grateful to Malaysia’s KINDNESS, GENEROSITY & DONGKOIness for the capital investment and scarce but talented human resource year after year!

What country can match our DONGKOIness now and in the future???


Even the local business men do not have much confidence here. Most of them have gone abroad to invest especially China, Vietnam and Indonesia.


Anil, the figures you gave are the official amount, how about the unofficial sum taken out by questionable dodgy investors?…. crooked politicians, especially those linked to the ruling govt. Perhaps, D… could enlighten us how these crooks do their business.

Andrew I

Bahamas? Heard (one of the James Bond actors) owns a bank there, which pays 007 interest annually…

Cayman Islands? Not too sure about that one, but I think the MP for Labuan should answer an oral question on this.

But Singapore? Our politicians don’t seem to be too keen on this “anomaly” so I wonder why it’s the top destination. Must be its kiasu attitude.


The Cayman Island and Bahamas “investments” looks very suspicious.
Possible Money laundering ?


Anil, your article must be read in conjunction with this article

Also Anil, besides capital flight, a worrying trend is the Human Capital Flight. Scroll down and read on Malaysia…..