Last week, the Securities Commission (SC) Malaysia held its annual industry dialogue in the wake of the Ekonomi MADANI, launched by Prime Minister and Finance Minister Dato’ Seri Anwar Ibrahim on 27 July 2023. This Annual SC Industry Dialogue 2023 (SCID) contemplated the core components put forth by the stated plan to expand the current capital market.
Securities Commission Malaysia: New capital market initiatives
60 industry leaders gathered to discuss ideas and address difficulties pertaining to investment possibilities, funding inclusivity, and reforms in the capital market. Topics included focusing on capital market promotions to grow the domestic-centred issuer pipeline, strengthen market vitality, increase the investor pool, and expand leverage efforts for the sustainability of Malaysia’s leadership in the Islamic Capital Market.
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Measures, such as reduced stamp duty for share trading and secondary trading, have already been implemented. The SCID lauded these and welcomed future moves, such as widening the definition of sophisticated investors. Other discussion points included:
- Reducing the trading board lot size on Bursa Malaysia from 100 to something more affordable.
- Allowing fractional share trading through stockbrokers. It plans to have the broad principles for this in place by the end of Q3.
- Automatically transferring ACE Market-listed companies onto the main market of Bursa Malaysia, subject to criteria approval. The SC aims to achieve this by the end of 2023.
Dato’ Seri Dr Awang Adek Hussin Source: Securities Commission Malaysia
Dato’ Seri Dr Awang Adek Hussin, the Securities Commission chair, said:
By continuing to collaborate with various stakeholders, the SC can leverage on their expertise to drive the required reforms and improvements towards strengthening the Malaysian capital market’s vibrancy, inclusivity and competitiveness.
