KUALA LUMPUR: Malaysia’s growth in 2015 will continue at between 4.5% and 5.5% despite several issues plaguing the country now, the newly set up Special Economic Committee (SEC) said in Putrajaya yesterday after meeting for the first time.

The committee, which was set up by Prime Minister Datuk Seri Najib Razak in a bid to tackle concerns about the free fall of the ringgit and falling commodity prices, said that it would make the necessary proposals to the prime minister, who will have the final say on the proposals.

But they refused to delve into specifics of the proposals they would be making.

The committee’s chairman, Datuk Seri Abdul Wahid Omar, met with the other nine members of the committee in Putrajaya yesterday, and will have another meeting with them on Friday as they begin to formulate their action plan.

“The meeting proceeded smoothly with a number of suggestions and recommendations,” Abdul Wahid said during a press conference yesterday.

Najib’s younger brother, CIMB Group Holdings Bhd chairman Datuk Seri Nazir Razak, is also part of the committee. The committee discussed the value of the ringgit, the stability of the financial markets and strengthening confidence in the capital market.

The ringgit is currently the worst performing currency in Asia, with the currency value hitting a 17-year low, drawing comparisons to the 1997 Asian financial crisis.

The committee has been tasked to formulate “immediate and medium-term plans” to strengthen the economy. — The Malaysian Insider

This article first appeared in digitaledge Daily, on September 2, 2015.