BUSINESS

TIMELY FOR SC TO RECALIBRATE APPROACH AS MALAYSIA REBUILDS FROM PANDEMIC -- CHAIRMAN

21/09/2021 12:44 PM

KUALA LUMPUR, Sept 21 -- As Malaysia rebuilds from the COVID-19 pandemic, it is an opportune time to recalibrate the Securities Commission's (SC) approach and outlook by embarking on a new chapter with the Capital Market Masterplan 3 (CMP3). 

SC chairman Datuk Syed Zaid Albar said the path ahead is, no doubt, uneven, with much uncertainty within the global environment. 

Therefore, the current market ecosystem must be enhanced to position it to support the transition to a stronger, more inclusive and sustainable nation, he said. 

"The CMP3 will provide the roadmap towards this goal, setting the next stage of Malaysia’s market evolution and growth, as well as the SC’s regulatory expectations, and indeed its own regulatory approach. 

"It also serves to align wider financial sector efforts, promoting better coordination across policymakers, regulatory authorities and industry," he said in his introductory remarks at the launch of the CMP3 today. 

The CMP3 outlines the SC's plans for the next five years (2021-2025), with six key development and regulatory thrusts that would collectively serve as pillars in developing strategic initiatives. 

Separately in a statement, the commission said over the last two decades, the Capital Market Masterplan 1 (2001-2010) and Capital Market Masterplan 2 (2011-2020) have successfully expanded the capital market while ensuring market stability and integrity. 

Malaysia now has a well-diversified capital market, with an equity market that has over 900 listed companies, a bond market that is the third largest in Asia, and an Islamic capital market that is innovative and well-regarded globally.

It also has a derivatives market that leads in crude palm oil price discovery and a unit trust industry that is one of the largest in the region.

To learn more about the CMP3, visit its website at https://www.sc.com.my/cmp3. 

-- BERNAMA


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