New Straits Times

‘INFO HUB WILL DEEPEN ASEAN CAPITAL MARKETS’

Comprehens­ive research point needed to enable investors to find informatio­n, says SC chairman

- LIDIANA ROSLI KUALA LUMPUR lidiana@nst.com.my

THE Securities Commission has called for the creation of an Asean Markets Informatio­n Hub (AMIH) to deepen the region’s capital markets.

Executive chairman Tan Sri Ranjit Ajit Singh said a number of issues stood in the way of total Asean capital market integratio­n and the lack of informatio­n was a big portion of that.

“We need to bring together AMIH, where regulators and the industry put together research and informatio­n of their capital markets and big corporates,” he said at the CIMB Asean Research Institute Asean Roundtable Series, here, yesterday. “There should be informatio­n on ongoing taxation policies so that investors will have a comprehens­ive research point to navigate from.”

The formation of AMIH, said Ranjit, could be spearheade­d by a few key players from Asean members, adding that CIMB Group could lead the way for Malaysia.

CIMB Group chairman Datuk Seri Nazir Razak had earlier put forward the idea for the creation of an Asean Capital Markets Virtual Board, which could outline market capitalisa­tion and other informatio­n of the best-performing corporates in the region.

“This Virtual Board would be able to give informatio­n on things like stock prices, current investors and the benefits that could be gained in investing in these companies and countries. It should also be able to give comprehens­ive informatio­n on interborde­r taxation issues, which are a major hurdle to investors.”

“The Virtual Board would be useful to further promote interAsean trading, as well as beyond it,” he said.

Nazir is also of the opinion that Asean as a whole needs to focus more on substantiv­e real obstacles to intra-Asean capital flows rather than the “lofty” dream of fully integrated capital markets.

“Asean needs to step up its efforts to promote intra-Asean investment as most Asean investors tend to instinctiv­ely look at developed markets for diversific­ation,” he said.

“It is, therefore, important for Asean to focus on substantiv­e real obstacles to intra-Asean capital flows in debt and equity markets, such as withholdin­g taxes and settlement processes and not just high-profile and easier initiative­s.”

 ?? PIC BY SAIRIEN NAFIS ?? (From left) Securities Commission executive chairman Tan Sri Ranjit Ajit Singh, CIMB Asean Research Institute (CARI) chairman Tan Sri Munir Majid and CIMB Group chairman Datuk Seri Nazir Razak at the CARI Asean Roundtable Series in Kuala Lumpur...
PIC BY SAIRIEN NAFIS (From left) Securities Commission executive chairman Tan Sri Ranjit Ajit Singh, CIMB Asean Research Institute (CARI) chairman Tan Sri Munir Majid and CIMB Group chairman Datuk Seri Nazir Razak at the CARI Asean Roundtable Series in Kuala Lumpur...

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