Malaysian minister assures investors of economy's strength

Kuala Lumpur

MALAYSIA'S economy is broad-based and diversified enough to withstand lower oil prices and currency fluctuations, a government minister reiterated on Wednesday amid growing investor concerns over the strength of its economy following a freefall in petroleum prices.

Delivering the keynote address at the 8th International Petroleum and Technology Conference in Kuala Lumpur yesterday, Minister in the Prime Minister's Department Wahid Omar stressed that the oil-producing nation had in recent years diversified its economy and has been gradually becoming less reliant on oil.