Good afternoon,
Mr. Liu Xing Qiang, General Manager of Dalian Commodity Exchange,
Honoured guests,
Members of the media,
Ladies and gentlemen,
Ni Hao? Today, we are pleased to formalise our long standing partnership with Dalian Commodity Exchange to another level. Both Bursa Malaysia Derivatives and Dalian Commodity Exchange have reached a mutual agreement to continue working together in organising the renowned China International Oils & Oilseeds Conference (CIOC) for another three years.
I must say that both Malaysia and China have enjoyed a healthy long-term economic and trade relationship, specifically on edible oils such as palm oil. China is already one of the largest importers of palm oil for Malaysia and has a well developed palm olein futures contract which has enhanced its competitiveness in the global edible oils market. Bursa Malaysia certainly values its friendly cooperative relations with one of China’s leading commodity exchanges, DCE, and we will steadfastly work with DCE to bring the edible oils markets to a new high. A conference of this magnitude further expands the level of co-operation between the China and Malaysia. More importantly, this marks a significant collaboration between the two exchanges – Bursa Malaysia and DCE - to promote the growth and viability for edible oils and oilseeds markets.
This is why I am excited to note the strengthening of the relationship between the two exchanges as we work in close collaboration to organise a world-class edible oils platform such as the CIOC. This conference serves to give insights on the developments as well as complexities that affect the related commodities. In this respect, the two exchanges also share a common objective on the fields of promoting and creating liquidity for futures markets, serving the traders’ demands and promoting the growth of edible oils markets, which have tremendous potential. Bursa Malaysia is pleased that such objectives have been met since the conference’s inception five years ago. With this continuous partnership, which will be inked shortly, we are confident this will pave way for more similar opportunities towards the sustainable growth of the edible oils industry within Malaysia and China.
Ladies and gentlemen,
In terms of capital markets, China and Malaysia complement each other very closely. I am pleased to note that Malaysia has already been considered as China’s trading partner for equities investments through the Qualified Domestic Institutional Investor (QDII) body. Malaysia is only the second ASEAN country to be recognised as an authorised market and we hope that the interest will further flow into all our capital market investment sectors, including the derivatives market.
Over the years, we have also noted increasing interest from this part of the region, demonstrating the attractiveness of the Malaysian capital market to China issuers, investors and traders. I am pleased to announce that our clearing house, Bursa Malaysia Derivatives Clearing, now accepts Renminbi (RMB) as margin collateral for trading in the Malaysian derivatives market. This move is a positive one, signifying the importance of China traders participating in our market. With this development, we have made the Malaysian derivatives market appealing and accessible to them via accepting the Chinese currency RMB as margin deposit.
Ladies and gentlemen,
Before I conclude, I would like to thank the team from DCE for partnering with us in this endeavour. We look forward to drawing on DCE’s experience and expertise towards the common goal of promoting the growth and trading of edible oils, its products and futures contracts. To our guests and members of the media, my gratitude goes to all of you for unwavering support.
Thank you.