Malaysia's Capital Market Remains Open To All Foreign Companies - SC Chairman

KUALA LUMPUR, May 8 (Bernama) -- Malaysia's capital market remains open to all foreign companies wanting to list on Bursa Malaysia (Malaysia's Stock Exchange), said Securities Commission Malaysia (SC) Chairman Ranjit Ajit Singh. "We've always allowed foreign listings in Malaysia. The guidelines and approaches are there," he said in response to a question on the SC's efforts at luring foreign companies, apart from China, to list on Bursa Malaysia. Ranjit was speaking to reporters on the sidelines of the one-day Islamic Finance and Public-Private Partnership for Infrastructure Development Forum here today and jointly organised by the SC and the World Bank. He said all foreign companies seeking listing in Malaysia must fulfill the relevant requirements. As of now, there are about 10 foreign companies based in Malaysia and includes Kanger International Bhd and Maxwell International Holdings Bhd. It was reported that in 2006, Malaysia, through the SC, had liberalised the capital markets guidelines for the country to allow large foreign-owned firms having operations outside, to seek primary or secondary listings on Bursa Malaysia’s Main Market. Meanwhile, Ranjit also said that around 61 per cent of infrastructure projects in Malaysia used sukuk Islamic bonds, as the preferred method of financing public-private partnership projects, including tolled highways. "Today, the Malaysian sukuk market accounts for 46.4 per cent of the world's sukuk issuance, as well as 52.6 per cent of outstanding sukuk globally," he added. -- BERNAMA