Singapore, 7 Feb 2018 – A Malaysia-Singapore stock exchange trading link that will allow each country’s investors to access the other’s stock market will have a combined value of RM4.68 trillion (S$1.58 trillion) involving some 1,600 public-listed companies.
A regulatory arrangement will be worked out between Bursa Malaysia and Singapore Exchange Ltd to set up the link, which is expected to be ready by the end of this year, said Prime Minister Datuk Seri Najib Tun Razak. The announcement was made by Najib during his keynote address at the World Capital Markets Symposium 2018.
It is one of the several new measures that will be carried out to stimulate vibrancy in the capital market.
He said recent outward-looking policies, particularly with Singapore, had led to the joint agreement between the two countries to set up the Malaysia-Singapore Connect stock exchange trading link.
“After discussions between the Prime Minister of Singapore Lee Hsien Loong and myself, I am glad to say that we have agreed that both markets have reached a sufficient level, sophistication and degree of maturity for us to establish a market corridor connecting Malaysia and Singapore with a trading link between our exchanges,” he said in his speech here yesterday.
The Prime Minister also announced that all government-linked companies (GLCs) are to contribute at least 1% of pre-tax profits to social and environmental causes.
“This would make a big difference to the lives of many, as 1% from just the top-100 GLCs would translate into more than RM1bil (S$337 million) going directly towards society,” he added.