Online platform for trading unlisted securities to be ready next year

Online platform for trading unlisted securities to be ready next year
Business & Markets 2013
Written by Afiq Isa of theedgemalaysia.com
Thursday, 13 June 2013 13:27

KUALA LUMPUR (June 13): Prime Minister Datuk Seri Najib Tun Razak announced today that an integrated online platform for the trading of unlisted Malaysian securities will be ready by next year.

In his keynote speech at the Invest Malaysia 2013 capital market conference, Najib stated that the integrated virtual platform, to be called MYULM, will enable investors to have greater access to local firms.

"The conceptual framework for Malaysia's first online platform for unlisted securities will be introduced," he said.

The Prime Minister said that the new platform will connect alternative investment products with the greater capital markets, including innovative ventures and socially responsible investments.

"It is designed to help early-stage ventures and businesses. My hope is that MYULM can be the catalyst for the creation of more inclusive and innovative capital market products for investors," he said.

He added there is ample scope to finance social enterprises in Malaysia, with the aim of giving back to needy communities.

"Over the coming years, we will work on opening the market spectrum for the business community in Malaysia," he added.

The creation for the platform was first announced in July 2012 as authorities look for more avenues for fund raising by firms, particularly in the small and medium enterprises (SMEs) segment.

The Securities Commission (SC) has stated that the platform may include alternative asset classes such as unlisted bonds and unlisted business trusts.

The online platform is one of the initiatives that the SC is working on as part of the Capital Market Masterplan 2 with a view of enhancing the market infrastructure.