We refer to the Malaysiakini video and report entitled 'Ibrahim Ali: Market economy a threat to Malays'.

During this interview with Malaysiakini, Ibrahim Ali quoted from the article, It is time for brutal competition which appeared in The News Straits Times on Feb 9. He subsequently made unpleasant comments regarding (Dr) Francis Yeoh, the managing director of YTL Corporation Berhad, following that very quote.

We would like to make known to your readers this correction issued by The News Straits Times on March 22. It is copied here in full:

‘In the news article, ‘It is time for brutal competition’ which appeared in The New Straits Times on February 9, incorrect attribution was made to the managing director of YTL Corp Bhd, Tan Sri Francis Yeoh.

'There is no correlation between the context and content of the article and Yeoh's actual speech at the ACCCIM 1Malaysia Economic Conference the previous day.

‘In his speech, Yeoh said that Malaysia's economy could be competitive globally with ‘strict adherence to the rule of law’, with ‘an investment climate that makes doing business easier and quicker’ and with ‘less corruption’.

'He also affirmed the wisdom of pursuing ‘good policies’ that have created and enhanced markets and industries. The error is regretted.’

The writer is attached to the managing director’s office, YTL Corporation Berhad .