Minister of Finance 1 appoints members to Capital Market Strategic Committee

Kuala Lumpur, 23 September 1999

The Securities Commission (SC) is pleased to announce that the Minister of Finance 1, Yang Berhormat Tun Daim Zainuddin has appointed a Capital Market Strategic Committee (CMSC) to assist in the development of a Capital Market Masterplan (CMP).

As announced earlier by the government, the CMP is a comprehensive plan that will chart the strategic positioning and future direction of the Malaysian capital market for the next ten years. Amongst other things, it will aim to address weaknesses in the capital market highlighted during the crisis, provide a strategic road map to facilitate future business development and assist in the creation of a resilient and competitive capital market.

The YB Minister of Finance 1 has appointed the Chairman of the SC, Encik Ali Abdul Kadir, to chair the CMSC. Six other members of the CMSC have been appointed from the capital market industry and they are:

Y Bhg Dato' Azlan Hashim, Executive Chairman of the Kuala Lumpur Stock Exchange;
Y Bhg Tan Sri Dato' Francis Yeoh, Managing Director of YTL Corporation Bhd;
Y Bhg Dato' Megat Najmuddin Megat Khas, Chairman of Asian-Pac Holdings Bhd and Chairman of the Federation of Public Listed Companies;
Puan Mohaiyani Shamsudin, Managing Director of Mohaiyani Securities Sdn Bhd and Chairperson of the Association of Stockbroking Companies in Malaysia;
Mr. Jeyaratnam a/l Tarmotharam, Chief Executive of Amanah Merchant Bank Berhad;
Mr. Stephen Taran, Managing Director of Corporate Bond Research, Salomon Smith Barney (M) Sdn Bhd

Amongst other things, the CMSC is expected to provide views on relevant issues concerning the strategic positioning and future direction of the Malaysian capital market.

The CMSC will be expected to present a report on the recommendations of the CMP to the government within six months.

SECURITIES COMMISSION MALAYSIA

Issued on behalf of the Securities Commission. Members of the press requiring assistance may contact tel no. 03-6548513 (Ann Teoh) / 03-6548625 (Soh Beng Choo) or fax no. 03-6515078 or e-mail: [email protected]

Background information:

The Securities Commission (SC), a statutory body reporting to the Minister of Finance, was established under the Securities Commission Act 1993. It is the sole regulatory agency for the regulation and development of capital markets. The SC has direct responsibility for supervising and monitoring the activities of market institutions, including the exchanges and clearing houses, and regulating all persons licensed under the Securities Industry Act 1983 and Futures Industry Act 1993.

More information about the SC is available on its homepage at www.sc.com.my