"Information providers must be responsible for the accuracy of the information they compile and disseminate. Information users on the other hand must take the responsibility of checking and verifying the information and not completely rely on what is provided.
"This checking process is made easier when you understand and have enough study and knowledge on the subject matter.
"With so much information conveniently available and accessible, there is no excuse not to base decisions on facts and figures and no excuse for not checking for accurate and relevant information prior to making an informed investment decision.
Yusli said this when launching the Real Time Stock Trading and Monitoring Via Mobile Phones, a new service provided by Commerce International Merchant Bankers Berhad(CIMB) and Maxis Communications Berhad (Maxis), this morning.
The Real Time Stock Trading and Monitoring Via Mobile Phones provides access to real time stock quotes and the monitoring of stock prices and allows the investor to send buy or sell orders via the mobile phone to their brokers.
Yusli said that as information creates wealth, the information communications technology industry has developed profoundly over the past decade.
“At Bursa Malaysia we have always encouraged the growth and development of the technology sector. The MESDAQ Market specifically caters to fund raising needs of technology and high growth companies. The MESDAQ Market has grown significantly, from 4 companies in 2001 to 46 companies to date. The MESDAQ Market index has grown 20% from 102.67 in June 2003 to 124.07 in June 2004," Yusli said.
Yusli encouraged companies to design products and services with the first mover advantage in order to compete in the global market.
"To produce globally competitive products and services, we need to form strategic alliances, to combine resources and share expertise, Yusli said.
Yusli congratulated CIMB, Maxis and N2N Connect Sdn Bhd on launching the mobile commerce facility which has significant potential in promoting stock investments.
"I hope more financial institutions, broking houses, telecommunications and technology providers will work together in providing convenient and timely access to investment related information in promoting informed investments and trading and at the same time assist in the development of a stronger, more resilient securities industry and capital market," Yusli said.
