The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) said today it opposes tomorrow's 'Himpunan Rakyat Bersatu' due to the latter's racial tone.

ACCCIM president Ter Leong Yap said Malaysians should be celebrating Malaysia Day tomorrow in a jovial environment.

“Instead, we have a not-so-friendly gathering that is not promoting national harmony,” Ter said during the chambers' launching of a survey report on economic situation in Malaysia for the first half of this year in Kuala Lumpur.

Asked about Prime Minister Najib Abdul Razak lending his support for the rally, Ter said: “ACCCIM does not agree with any rally that causes racial disharmony. We hope the government shares the same opinion.”

Ter ( photo ) opined that Malaysians should safeguard social stability and harmony in order to accelerate economic recovery.

“Any rally that would incite racial tension, damage national peace, obstruct efforts in encouraging foreign direct investment and attracting tourists, should be stopped.

“ACCCIM also urges the government to take severe action to stop extreme remarks and actions that may harm ethnic relations and harmony,” he added.

Yesterday, Najib said BN component parties took the stance to 'agree to disagree' on Sept 16 rally and to allow it to go ahead.

The rally was endorsed by Umno and some party divisions are mobilising their members to take part.

However, the rally has undergone many twists and turns regarding its purpose, organisers, T-shirt colour and police reaction to it.

ValueCap welcomed

Meanwhile, Ter welcomed the government’s relaunch of national equity investment firm ValueCap with RM20 billion capital.

“To certain extent, this will stimulate the economy and increase market confidence. It is the question of how.

“The RM20 billion (to shore up stock market), made Bursa Malaysia bullish yesterday. Many say the local economy is facing a crisis of confidence. This will help to boost investors’ confidence.

“But we think that the core issue is to stabilise the ringgit.”

After Najib’s ( photo ) announcement of relaunching ValueCap, FBM KLCI increased 41.89 to 1645.49 points yesterday.

But the weak ringgit did not share the enthusiasm and continues to be over RM4.30 per US dollar.

Apart from ValueCap, Najib announced the package to boost the economy will include exempting the manufacturing sector from import duties, and visa exemption for China tourist groups, among others.