Executive Chairman of Kuala Lumpur Stock Exchange Dato' Mohd Azlan Hashim said the successful implementation of the initiatives in the economic package and the benefits to be derived, will be positive in promoting growth.
"Whilst the majority of sectors and listed companies are fundamentally sound and have shown resilience during these challenging times - some specific sectors are adversely affected by recent regional and global events.
"Therefore, the initiatives in the economic package - in providing flexibilities in terms of levies, waivers as well as time extensions - will certainly be effective in sustaining progress in the economy and in cushioning the economy from further external shocks. The effect expected would be one of sustained economic performance and broad based growth in key economic sectors.
"This would result in continued investor confidence and interest and on-going, if not expanded, capital generation activities - which will in turn fuel a more positive development of the economy, the capital market and the stockmarket," he said.
On the measure to encourage more foreign companies to be listed on the KLSE in line with the Capital Market Masterplan, Mohd Azlan said this is indeed welcomed.<> "This would contribute to expanding the breadth and depth of KLSE and offer further opportunities for investors to participate in Malaysia's economic growth.
"A key impact of this move is to promote greater interest and direct participation by investors in KLSE, which already offers one of the most diverse choice of investment in 876 companies in 14 sectors. This would further increase the profile and enhance the portfolio of securities listed on KLSE that are being monitored by fund managers.
"Overall, this is certainly a significant initiative in the right direction to further integrate the Malaysian capital market internationally," he said.
