KLOFFE'S John Duggan Joins KLSE Group

The Kuala Lumpur Stock Exchange (KLSE) has appointed John Duggan as Group Advisor, Derivatives Markets. Duggan is presently the Chief Operating Officer of the Kuala Lumpur Options & Financial Futures Exchange (KLOFFE), a KLSE company. The appointment is effective August 1, 1999. Duggan has 30 years experience in derivatives having worked in Australia, Belgium and Malaysia. Prior to joining KLOFFE as Chief Operating Officer in 1994, Duggan was with the Australian Stock Exchange derivatives market division. He also has the experience of contributing to the setting up of the Kuala Lumpur Commodity Exchange (KLCE) and its clearing house. In his new position, Duggan will serve as advisor to the KLSE Group on matters relating to the development of the futures and derivatives industry in Malaysia in general, and KLSE Group in particular. With the appointment, Executive Chairman of KLOFFE, Ramli Ibrahim will also assume the responsibilities and duties of the Chief Operating Officer of KLOFFE with effect from August 1, 1999. Ramli has 36 years experience in accounting. Prior to joining KLOFFE, he was a senior partner of KPMG Malaysia. Presently, Ramli is also a director of the Malaysian Derivatives Clearing House. KLSE completed the acquisition of KLOFFE on December 31, 1998. The integration of KLOFFE and KLSE is a significant move, in line with the long term global trend of consolidation between exchanges. Of mutual benefit to both KLOFFE and KLSE, the integration will enhance efficiency and optimal use of resources for both exchanges whilst making an important contribution towards strengthening the Malaysian capital market.