NEW STRAITS TIMES (MALAYSIA): 'Malaysia well on way to economic recovery' .

MALAYSIA is well on the way to recovery as measures implemented have stabilised the economy, Morgan Stanley Dean Witter said yesterday.

Managing director and head of Asian debt capital markets Michael Dee said investors should focus on the action taken by the country. Its selective exchange rate controls and economic measures taken, although tough, had proven to be successful.

"The measures taken have also reduced its vulnerability to external shocks. Malaysia should be proud of its achievement as it did not use the International Monetary Fund's recovery measures but strayed from it," Dee added.

In addition, he said Bank Negara had designed the most …