KUALA LUMPUR: Prime Minister Datuk Seri Najib Razak has met with the top figures of government-linked companies and financial institutions to discuss the country’s current economic situation and the sliding of ringgit.

“This evening, I had a discussion with the chairmen, chief executive officers and senior officers of government-linked investment companies, which are KWAP, KWSP, Lembaga Tabung Haji, Petronas, Permodalan Nasional Berhad and Khazanah.

“Prior to this, I had also met with economic chiefs and senior analysers from financial institutions such as JP Morgan, Standard Chartered, Credit Suisse, CIMB, RHB, Maybank, Bank Islam, MIER and Malaysian Rating Corporation Berhad.

“We are aware of the current situation and agreed that the economic fundamentals are still strong and far more different than the 1997-1998 crisis,” he said in a blog post yesterday.

Najib, who is also Finance Minister, said several short-term measures were suggested during the high-powered meeting.

He said discussions will continue, and that the opinions given by the corporate leaders will be examined by him and the newly-formed Special Economic Committee (SEC).

“I am confident that with the cooperation and the expertise of the members in the committee as well as the Economic Council, we will be able to face the current global economic challenge.”

Next week, some of the country’s best minds will meet to formulate policies to help the nation avert the fallout from the impending global economic crisis.

Yesterday, Najib named the 10 members of the SEC, comprising top economists and bankers, that will consider short-term and medium-term measures to strengthen the economy.

Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar, a former banker, heads the committee.

In a Facebook posting last evening, Najib said that the task of the SEC was to minimise the impact of any arising issues on the economy.

“While our economic fundamentals are strong, I am concerned of the current developments in the global financial markets and the impact of the developments on our economy and on the lives of all Malaysians.

“The SEC will meet weekly to minimise as much as possible the impact of any arising economic issues so that our economy will continue to prosper,” wrote Najib.

– http://www.nst.com.my/