KUALA LUMPUR (Nov 20): Total ringgit investments abroad by Malaysians amounted to RM908 billion in the first half of this year, of which RM574 billion were by companies and RM334 billion by residents, according to the Ministry of Finance.

In a written reply to a question in the Dewan Rakyat by Datuk Dr Marcus Makin Mojigoh (BN-Putatan), the ministry said the countries in which investments were made by the Malaysian companies included Singapore (16%), Indonesia (9%), Canada (7%), Australia and UK (5%) and India (4%).

In terms of sectoral breakdown, 35% of the direct investments abroad by Malaysian companies flowed into financial services, 19% into mining and 8% into telecommunication services.

As for the investments by residents, the ministry said about two thirds of the amount comprised assets held in the form of securities.

"Investment overseas by Malaysian residents and companies reflected their maturity and capability to compete at the international stage and their strategy to diversify their investments have resulted in optimum return," the ministry said.