“We plan to de­velop and in­tro­duce more in­no­va­tive prod­ucts that in­vest in China on­shore se­cu­ri­ties...”

MUNIRAH KHAIRUDDIN CIMB-Prin­ci­pal As­set Man­age­ment Bhd CEO

New Straits Times - - Business -

KUALA LUMPUR: CIMB-Prin­ci­pal As­set Man­age­ment Bhd is the first as­set man­age­ment com­pany in Malaysia to ob­tain the Ren­minbi Qual­i­fied Foreign In­sti­tu­tional In­vestor (RQFII) li­cence awarded by the China Se­cu­ri­ties Reg­u­la­tory Com­mis­sion (CSRC) re­cently.

CIMB-Prin­ci­pal chief ex­ec­u­tive of­fi­cer (CEO) Munirah Khairuddin said in a state­ment that with the RQFII li­cence, it would have di­rect ac­cess to China’s cap­i­tal mar­kets and prod­ucts, such as the A-shares and bonds of Chi­nese en­ti­ties.

“We plan to in­tro­duce more in­no­va­tive prod­ucts that in­vest in China on­shore se­cu­ri­ties as well as di­ver­sify some ex­ist­ing in­vest­ment port­fo­lios di­rectly into China’s on­shore eq­ui­ties and fixed­in­come se­cu­ri­ties,” she said.

CIMB-Prin­ci­pal has ap­pointed HSBC (Malaysia) Trustee Bhd as its trustee, Hongkong and Shang­hai Bank­ing Corp Ltd as global cus­to­dian and HSBC Bank (China) Co Ltd as its China RQFII cus­to­dian.

HSBC Malaysia CEO Mukhtar Hus­sain said the size of the RQFII quota granted to Malaysia was fur­ther ev­i­dence of China’s com­mit­ment in grant­ing in­vestors greater ac­cess to its mar­kets.

“We are con­fi­dent this will be the first of many in­vest­ments flow­ing through the Chi­naMalaysia busi­ness cor­ri­dor.”

In Novem­ber 2015, China ex­tended the RQFII pro­gramme to Malaysia with an ini­tial quota of 50 bil­lion yuan (RM32 bil­lion), mak­ing Malaysia the 14th over­seas ju­ris­dic­tion to be in­cluded in the pro­gramme.

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