KUALA LUMPUR, July 29 (Bernama) -- German businesses in the country are not perturbed by the reported pull-out of foreign fund managers, saying that fund activity and real business are completely two different things. "It is completely two different issues. We are in the real business to produce products and services and are not affected with what institutional funds are doing. "It (fund movement) is very volatile all over the world but we are talking about real business here, so we are not concerned," said Malaysian-German Chamber of Commerce and Industry Executive Director Alexander Stedtfeld after presenting the findings of the ASEAN Business Climate Survey 2015 in the capital, Wednesday. He said the ringgit's fluctuation did not have any significant impact on German companies. "They (German companies) seem not really worried. Some companies think its (the current euro/ringgit rate) beneficial while others adopt safeguard measures. "The trade is using the euro and it is stable against the ringgit at around RM4.20. It has not dipped below the RM4.0 level for a long time. Overall, we don't see it as having any negative effect on German businesses in Malaysia" he said. The local note was hovering at 4.2137/2182 against the euro from 4.2187/2217 recorded at 5 pm on Tuesday. On the Cabinet reshuffle announced Tuesday, Stedtfeld was confident the political development in the country would not have any impact on business activities. "What's important for us is that there is no change in the administrative procedures and policies. "We are quite confident we will not see any change in this area," he said.

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