Can Malaysia overcome its challenges?

Malaysia's stockmarket has been the worst Asian performer year to date, yet earnings per share for listed companies are at the highest level since at least 2006, says Aberdeen's Gerald Ambrose

Things look bad in Malaysia. In fact, things have not looked this bad for quite a while. Cheap oil has slashed revenues from crucial oil and gas exports, while awkward questions over the inner workings of a government investment fund have further damaged investor confidence. The stock market is down, as is the ringgit, and capital has flowed out of the country. Some pundits blame today's woes on Malaysia's failure to fix its problems after the Asian financial crisis, when the country introduced capital controls to keep money within its borders. They say complacency has led to a loss of c...