Kuala Lumpur, 28 August 2006

SC approves BNP Paribas & Nomura as foreign fund managers under special scheme

The Securities Commission (SC) has approved the establishment of BNP Paribas Asset Management (BNPPAM) and Nomura Asset Management (NAM) as foreign fund management companies under the special scheme.

This broadening of international participation in the Malaysian capital market is expected to accelerate the growth of the investment management industry and is aligned with the objectives of the Capital Market Masterplan.

The participation of international fund managers will complement the business models and capabilities of domestic fund managers and provide a greater range of services and choice for investors.

BNPPAM is a leading European asset management firm. Its group of companies comprises specialist asset management firms with product expertise in a wide range of products and asset classes. BNPPAM has asset management centres operating in 24 countries covering the Americas, Europe, Middle East, Africa and Asia.

NAM is a leading investment management firm in Japan with a global presence in Asia, Europe and the United States. It has strengths in the management of traditional asset classes and in managing pension assets. NAM has investment offices in Hong Kong, London, New York and Singapore.