Kuala Lumpur, 26 August 2014
PM launches SC book on capital market development
The capital market will take on a more significant role in financing economic growth, with the aim of transforming Malaysia into a strong and vibrant economy that will function as a strategic regional hub, said Prime Minister Dato’ Sri Najib Tun Razak in his foreword to Securities Commission’s newly launched book, titled Capital Market Development in Malaysia: Growth, Competitiveness and Resilience.
“A well-functioning capital market is a cornerstone of the government’s Economic Transformation Programme which aims to raise the country’s gross national income per capita to US$15,000 by 2020 in order to achieve ‘high income nation’ status. This ambitious endeavour is within our reach as at the end of 2013, the capital market was valued at RM2.7 trillion, 2.8 times Malaysia’s gross domestic product,” said Prime Minister Dato’ Sri Najib Tun Razak.
The Prime Minister was at the SC today to launch the book, which was published to commemorate SC’s twentieth anniversary.
The publication of Capital Market Development in Malaysia: Growth, Competitiveness and Resilience follows SC’s first book Capital Market Development in Malaysia: History & Perspectives that was published in 2004. The second book focuses on SC’s second decade from 2003 to 2013, and explores the reforms and initiatives articulated in Capital Market Masterplan 1 and 2 and the rationale that underpinned many of the SC’s policies and decisions.
SC Chairman Datuk Ranjit Ajit Singh said, “By providing insights on the policy initiatives, regulatory reforms and developments over the last decade from the perspective of the SC, this book is a timely and important contribution to the body of knowledge on the Malaysian capital market. “It also documents the evolution of SC’s regulatory and developmental approach against the backdrop of an increasingly interconnected and complex marketplace, thus providing a narrative of the philosophy and challenges that has driven reforms in the Malaysian capital market.
SECURITIES COMMISSION MALAYSIA