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Monday, April 11, 2011

CMP2 to further unlock local capital market potential

Published: Tuesday April 12, 2011 MYT 10:39:00 AM
Updated: Tuesday April 12, 2011 MYT 10:48:30 AM
CMP2 to further unlock local capital market potential

KUALA LUMPUR: Prime Minister Datuk Seri Mohd Najib Tun Razak announces the launching of Capital Market Masterplan 2 (CMP2) at Invest Malaysia 2011 conference today.

The theme for CMP 2 is growth with governance.

The next 10 years holds a huge amount of promise for Malaysia capital markets and CMP 2 is the strategy to unlock it.

On current forecast, our capital market will more than double to RM4.5 trillions by 2020 and greater internationalisation this figure could increase to as much as RM5.8 trillions over the same period,” he said.

Najib said the implementation of CMP 2 would be operationalised under the Securities Commission annual business plan would get underway immediately in 2011 with a range of new initiatives that would come into force by the third quarter.

The initiatives are changes to the regulatory framework for fund-raising and product regulation to slash unnecessary red tape and lead to faster turn-around approvals.

Secondly, the introduction of a new dual licensing scheme that would make it easier for dealers in the equity market to become licensed to trade in the derivatives market as well.

There is also plan to increase the number of proprietary day traders by almost three folds to enable more dealer representatives to become specialised traders.

Najib said this in his speech at the opening ceremony of Invest Malaysia today.

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