UBS admits mistakes made by officer's appraisal of M'sia

Swiss banking giant UBS has conceded that the widely reported gloomy assessment on Malaysia's economy by its officer Kelvin Tay contained errors.

In a statement today, the bank's Singaporean branch said Tay had wrongly claimed that Malaysia had a current account deficit.The bank also clarified that Tay had erroneously stated that Putrajaya's abolition of GST would result in a higher dependence on oil revenue. UBS Singapore's corporate communications head Adeline Lee explained that Tay, the bank's regional chief investment officer, had made mistakes due to the confines of the short"live" interview with Bloomberg.Tay's assessment had come amidst numerous news reports which pointed out that Malaysia's stock market was faring poorly, while neighbouring countries were experiencing a bull run.

Critics of the federal government had used Tay's assessment as evidence that the economy was badly managed.

UBS Kelvin Tay-apologise to all Malaysians for your trash interview. You should be suspended from UBS pending an investigation. Emotionally biased against Malaysia in the interview, no accurate information. A stain on UBS’ track record. UBS KelvinTay unprofessional shit

chedetofficial And now All those ppl in the blunder team will attack the one who is the most blunders So that they aren't the worst And Rakyat will think they are transparent Soalan Bocor What a weird Malaysian people

Should sue UBS on this

This shouldn't have happened.

| Only after FM/LGE squeezed his balls ?

business uturn 😂

Ubs learn how to make a uturn from ph lol

I wander how much he got paid to say that...

chedetofficial لا عليك ، أتفهم ذالك ، فالننظر للمستقبل .

Having inexperienced ministers cost us a lot of money and credibility.

Always the problem when research houses and investment banks get overzealous for business trying to outsmart one another and coming up with subpar analysis.

NonVitalTooth Friends are always helping friends

Low level incompetent Kelvintay reflects overall blomberg blomberg management

Kena ugut ler tu. Budaya kominis.

ubs UtterBullShit

So, please immediately repraise & republish formally.

I guess UBS really know how to BS.

So even you are higher position doesnt mean you are knowledgable.. Admit then doing again. Just do your appraisal for your own country .Dont critics other country if you know nothing.

Hahaha where is that Anal Musang now

Obviously not so expert...

teloq suda kasi pegang ka?

chedetofficial Be fair to their appr. It's still early days to tell vis-a-vis our eco.outlook after the tumultuous start?

chedetofficial PH mental koyak. Inaccuracies my foot.

So which one is true? Are our government account in surplus? Why TH hibbah is only 1.25%? What else the government is hiding from us?

incompetent officer ! Everyone can be a Banker .

Ubs balls squeezed by the dap finance minister ke? 🤣

Who is having d last laugh with a few glasses of teh tarik now, I wonder..

Chief investment officer making intern mistakes?

chedetofficial business Tay must come out and apologize to all Malaysians. Don’t try hiding behind the desk. We know this is not a sincere admission of mistake. UBS imokman tonypua thank you to our two DAP yb who didn’t back down on the inaccuracies fr UBS bad reporting.

SyedSaddiq If they can admit mistake n apologise. I wonder whether the government of the day would do the same for all the not so right statement about previous government? comeclean

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