REALLY, JOHARI? RECOVERY OF BURSA MALAYSIA TO CONTINUE – MINISTER

KUALA LUMPUR – The good recovery of Bursa Malaysia in the first quarter of this year is expected to continue amid sustained growth in the domestic economy, said Second Finance Minister Datuk Seri Johari Abdul Ghani.

He said the Government observed that year-to-date (YTD), the FBM KLCI gained by 6% while the number of initial public offering (IPO) stocks had also risen in tandem.

“We are also pleased to see the return of foreign investors in the first quarter of this year.

“Driven by the stability of the ringgit, bright growth prospects and a series of new listing, foreign investors have been net buyers with cumulative YTD net purchase of RM7.02bil, the highest within the emerging Asean market,” he said at that e-Fourth Bursa Malaysia Excellence Awards 2016 Gala Nite in Kuala Lumpur on Wednesday night.

Johari said with the receding uncertainties in external conditions and improving prospects of Malaysia, gross domestic product growth was set to be better this year with an estimation of 4.3% to 4.8%.

Overall, to continue the growth momentum, he said the Government, public institutions and players in the private sector must work together, as the duty to strengthen the country’s economy was a shared responsibility.

Meanwhile, Bursa Malaysia Bhd chief executive officer Datuk Seri Tajuddin Atan said despite a challenging year in 2016 due to external factors such as Brexit and US President Donald Trump’s stand on key issues, it managed to maintain a fair and orderly market.

He noted that as at April 2017, Bursa Malaysia’s average daily trading value touched RM2.44bil YTD, while market capitalisation increased by 10.4% YTD to RM1.84 trillion.

On collaboration with brokers, he said 448 educational and marketing events were held last year, reaching 24,000 Malaysians.

“In 2017, we have already organised 97 events, attended by 13,000 people from a total 342 events planned for this year,” he said.

At the event, themed “Recognising Malaysia’s Best”, 19 awards categories were presented from 25 last year, to deserving brokers and participants of the equities, derivatives and Islamic market for their contribution and achievements in the sustainability and growth of the Malaysian capital market.

Tajuddin said the selection of winners were based on a holistic view of the entire business spectrum of the brokers.

“While trading volume remains a key component in the selection criteria this year, due consideration has also been given to regulatory aspects and business growth of the brokers,” he said.

He said brokers and market intermediaries were an integral part of the capital market eco-system and would continue to play an important role in supporting the exchange and the marketplace.

– Bernama

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