The Securities Commission Malaysia (SC) and Bursa Malaysia Berhad (Bursa Malaysia) today welcome the announcements by the Honourable Prime Minister and Minister of Finance, Dato’ Seri Anwar bin Ibrahim, aimed at driving Malaysia’s economic growth and capital market competitiveness.
The short-term and medium-term measures address three key pillars essential to the growth and development of the capital market in Malaysia:
- Pillar 1
Creating market vibrancy with greater participation opportunities for the rakyat; - Pillar 2
Attracting larger pool of investors to support financing for small, medium enterprises and new economy companies; and - Pillar 3
Enhancing Malaysia’s competitiveness to strengthen market confidence.
Measures announced:
- A reduction of the stamp duty rate for the trading of listed shares on Bursa Malaysia from 0.15% to 0.10%, while the stamp duty cap is maintained at RM1,000 for each contract. 💖💖💖This change, which take effect in July 2023, will directly lower the cost of transactions, especially for retail investors, who are particularly sensitive to costs.
- To widen the pool of investors, the Ministry of Finance and Securities Commission Malaysia will look at policies to achieve the following:-
- to facilitate and attract the setting up of family offices in Malaysia;
- to promote corporate venturing to drive greater domestic direct investment through more facilitative tax and incentive policies; and
- to widen the definition of sophisticated investors to include angel investors.
The capital market regulators also commit to explore ways to reduce market friction and shorten time-to-market for initial public offerings. 👍👍👍
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