Speaking at the launch of the new name Chief Executive Officer Yusli Mohamed Yusoff said the event marks the completion of the transformation in the logo and name of the exchange to Bursa Malaysia, following from the demutualisation and conversion of the exchange.
“This event, however, is by no means a completion in the overall transformation process for the exchange. In fact, the transformation process has began for Bursa Malaysia to expand its commercial objectives, its regulatory objectives, its performance oriented culture and its obligations to all stakeholders.
“Lest we forget, we would not have come this far without the steady, less visible contribution of everyone connected to the exchange throughout the years.
“This include the government, the Ministry of Finance, regulators, industry and market participants, investors, shareholders and last but not least, the staff and the executive officers – the leaders – of the exchange, past and present, who led the exchange through changes and challenges.
“We are here today as Bursa Malaysia and Bursa Malaysia will go higher and farther from today - because we are standing on the shoulders of giants. The cumulative and collective effort from every women and men who have contributed to the exchange, industry and market, past and present,” he said.
In leading the team the management team at Bursa Malaysia, Yusli said, ” We are aware that we are a team, at this moment in time, that has the mission to build for the present and the future.
“A team whose main objective is to ensure the successful transformation of Bursa Malaysia to meet commercial obligations to shareholders, value obligations to investors, regulatory and corporate governance obligations to industry and market, and talent development obligations to staff.”
Yusli said the Bursa Malaysia’s team key objectives, going forward, are:
- to focus efforts that contribute to increasing market velocity. Whilst we are aware that some aspects of market velocity are influenced by national and international developments, we are determined to initiate and enhance efforts towards increasing market velocity.
- to drive technology and infrastructure development fast forward in order to enhance operational and delivery systems efficiency.
- to reduce group wide operating cost where relevant and to enhance group wide risk management where appropriate.
- to continue striking the best balance between commercial and regulatory objectives in meeting the obligations of the public interest framework of the demutualised exchange.
“Bursa Malaysia certainly looks forward to working with all of you for the continued growth and improvement of the Malaysian capital market, securities industry and the exchange business
“It would be this collective effort that would add meaning and substance – that would fulfill the promise and accomplish the mission of Bursa Malaysia,” he said.
The names of Bursa Malaysia Berhad, Bursa Malaysia Securities Berhad and Bursa Malaysia Derivatives Berhad come into effect today, 20 April 2004.
With the exception of Labuan International Financial Exchange Inc. (LFX) which will continue to use its present name and identity, the name Bursa Malaysia will be maintained for companies within the Bursa Malaysia group - for example Bursa Malaysia Depository Sdn Bhd, Bursa Malaysia Clearing Sdn Bhd and Bursa Malaysia Information Services Sdn Bhd. These other names will come into effect on a later date to be announced, subject to approvals from Companies Commisssion Malaysia.
Yusli said,”Since Bursa Malaysia is a brand name for the exchange, there is no abbreviation or translation for its usage. The exchange should invariably be referred to in print, electronically and verbally as Bursa Malaysia from today.”
For the media, examples of usage for the brandname include:-
- ABC Trading has applied for a listing on Bursa Malaysia
- Practice Note 4/2001 of 'Bursa Malaysia Listing Requirements
- Top gainers on Bursa Malaysia today are the following companies.
