The Advisory Council was identified in the Masterplan as a key element of the implementation process. It is expected to advise the SC on, among other things, the developments in global and domestic capital markets and their potential implications for Malaysia, and to provide independent views on the progress of implementation of the Masterplan. The Masterplan was launched by the Minister of Finance, Tun Daim Zainuddin last month.

The Advisory Council will also be involved in efforts to promote and facilitate smooth implementation of the Masterplan, and to advise on areas where further enhancements may be required to reflect evolving market developments.

"Our experience in working with industry in the course of formulating the Masterplan, particularly through the Capital Market Strategic Committee (CMSC), has been very positive. The establishment of the Advisory Council reflects the SC's continuing efforts to ensure that a consultative and collaborative approach is taken in the Masterplan's implementation," said the SC Chairman, Encik Ali Abdul Kadir.

Fifteen members from the capital market industry, comprising senior domestic and foreign capital market participants and specialists providing representation over a spectrum of capital market activities, have been appointed. They include several members of the CMSC that were involved in the formulation of the Masterplan.

The Advisory Council will be chaired by the SC Chairman and comprise the following members:

Dato' Azman Yahya, Managing Director, Pengurusan Danaharta Nasional Berhad;

Tan Sri Dato' Francis Yeoh, Managing Director, YTL Corporation Berhad;

Dr. R. Thillainathan, President of the Malaysian Economic Association (MEA) and Finance Director of Genting Berhad;

Raja Datuk Arshad Raja Tun Uda, Chairman of the Malaysian Accounting Standards Board (MASB), Executive Chairman of PricewaterhouseCoopers;

Dato' Megat Najmuddin Megat Khas, President of the Malaysian Institute of Corporate Governance (MICG), Chairman of the Federation of Public Listed Companies (FPLC) and Chairman of Asian-Pac Holdings Berhad;

Datuk Mohaiyani Shamsudin, Chairperson of the Association of Stockbroking Companies Malaysia (ASCM) and Managing Director of Mohaiyani Securities Sdn Bhd;

Dato' Abdul Azim Mohd Zabidi, President of the Federation of Malaysian Unit Trust Managers (FMUTM) and Chairman of Bank Simpanan Nasional;

Encik Iskander Ismail, Chairman of the Malaysian Association of Asset Managers (MAAM) and Executive Director of Amanah SSCM Asset Management Sdn Bhd;

Dato' Hwang Sing Lue, Managing Director, Hwang-DBS Securities Berhad;

Dato' Dr Abdul Halim bin Haji Ismail, Executive Chairman, BIMB Securities Sdn Bhd;

Mr. Jeyaratnam Tamotharam Pillai, Chief Executive Officer, Alliance Merchant Bank Berhad;

Encik Hamzah Mahmood, Director, Kenanga Deutsche Futures Sdn Bhd;

Ms. Chok Kwee Bee, Executive Director, BI Walden Management Sdn Bhd;

Mr. Stephen Taran, Managing Director of Corporate Bond Research & Global Head of Sovereign Credit Research, Salomon Smith Barney New York; and

Mr. Takashi Tsutsui, Member of the Board of Managing Directors (Global Equity), The Nomura Securities Co, Ltd, Japan.