Thursday, March 22, 2007

PM Unveils Measures To Boost Stock Market.

Prime Minister Datuk Seri Abdullah Ahmad Badawi Thursday announced several measures to boost the equity market, property sector and the South Johor Iskandar Development Region.

In his keynote address at Invest Malaysia 2007 Conference here, Abdullah said competitiveness and efficiency of the Malaysian capital market was a top priority and a few measures had and would be taken to achieve the objectives.

Abdullah said new rules would be introduced by Bursa Malaysia to enable and regulate direct market access, which would improve trading efficiency and increase value added trading activities on the exchange.

To strengthen Malaysia's position as an international Islamic financial centre, he said, the Securities Commission (SC) and the Dubai Financial Services Authority would establish a mutual recognition regime to facilitate the cross border marketing of Islamic Fund between Malaysia and Dubai.

Abdullah said the government would continue with programmes to reduce its stake in government-linked companies that had high concentration of government linked ownership.
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The full report in Bernama HERE.

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