Lim: Attract more companies from China to list on Bursa Malaysia

KUALA LUMPUR: Malaysia should attract more companies from China, the world's second largest largest economy, to list on the stock exchange here, said Deputy Finance Minister Datuk Donald Lim.

He said more China-based initial public offerings (IPOs) would deepen and broaden the market.

"I believe we need to do more to attract more companies from China and developed countries to list here, as well as those companies that want to take advantage of the growing Asean market," he said at the 17th Malaysian Capital Market Summit which was organised by the Asian Strategy and Leadership Institute.

Currently, there are 10 companies, mostly from the southern part of China, listed here.

Lim also said the Government hoped that more small and medium enterprises (SMEs) would seek public listing.

"We hope more SMEs will look at the capital market to raise funds for expansion and working capital," Lim said.

Lim also said that Malaysia was anticipating economic growth of 5% this year aided by strength in domestic demand, tourism and construction although exports to the United States and Europe had slowed

He pointed out that trade with other Asian countries was still strong.

Private Pension Administrator Malaysia chief executive officer Datuk Steve Ong said there was potential for private pension funds to reach RM1 trillion in 25 years.

Ong said this was based on 13 million working Malaysians each contributing RM3,000 per year over that period.

As an example, Ong said the Australian private pension fund industry started in the 1990s and today, it has A$ 1.5 trillion in assets under management.

"It is the beginning of a new and exciting industry in Malaysia," he said.

-The Star-

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