It’s a testament to strength of Malaysia’s economy, says Amir Hamzah
KUALA LUMPUR: The FTSE Bursa Malaysia KLCI’s (FBM KLCI) highest closing in two years recently proves that measures under the Madani Economy framework are boosting investors’ confidence, said Finance Minister II Datuk Seri Amir Hamzah Azizan.
The FBM KLCI breached the 1,600-point mark and led to a record RM2 trillion market capitalisation for the component stocks.
“Coming on the back of a strong show of resilience amid the ongoing geopolitical tensions, this performance is a testament to the strength of our market and Malaysia’s economy,” he said at the launch of CIMB Securities Sdn Bhd yesterday.
Amir Hamzah said the development of Malaysia’s capital market reflected a commitment to fostering growth, innovation and resilience in the financial sector, positioning Malaysia as a leading destination for investment and capital market activity.
“As the steward of Malaysia’s economic well-being, the Finance Ministry is entrusted with the responsibility of formulating policies and strategies to ensure sustainable growth, financial stability, and prosperity for all Malaysians.
“Central to this mandate is the promotion and development of Malaysia’s capital market.”
He said multiple strategies and initiatives rolled out by the government continued to help realise the key targets under the Madani Economy framework.
These include the National Energy Transition Roadmap (NETR), National Industrial Master Plan (NIMP) 2030, the Midterm Review (MTR) of the 12th Malaysia Plan and key economic reforms under the 2024 National Budget.
“These endeavours span across various government ministries and agencies, reflecting a whole-of-government approach and a collective focus on raising the ceiling and raising the floor, paving the path towards tangible and sustainable economic growth through impact-driven initiatives,” he said.
The government is looking to the corporate sector to step up participation in the nation’s economic ecosystem.
“On this note, I welcome the addition of CIMB Securities to the capital market scene, and look forward to increased vigour of our financial markets,” he noted.