SC Forms One-Stop Information Centre for Bumiputeras

Kuala Lumpur, 30 March 1999

The Securities Commission (SC) today announced the establishment of a special Bumiputera Unit (Bumi Unit) within the Office of the Chairman. The Bumi Unit will begin operations on 1 April 1999 and will be a one-stop information centre within the SC to deal with Bumiputera-related matters. The establishment of the Bumi Unit is in line with the on-going, long-term objective of the SC in facilitating and promoting Bumiputera participation in the Malaysian capital market.

Previously, SC efforts which were for the benefit of Bumiputeras include organising seminars and roadshows as well as having regular meetings with the Malay Chamber of Commerce (DPMM), Majlis Amanah Rakyat (MARA), Permodalan Nasional Berhad (PNB), Selangor State Development Corporation (PKNS) and other Bumiputera organisations. Policy changes by the SC include allowing flexibilities in its listing requirements for applications based on proforma accounts for Bumiputera-controlled companies.

Hence, the establishment of the Bumi Unit is, in effect, a consolidation of various SC-wide activities and a continuation of the SC's emphasis on Bumiputera matters.

"The Bumi Unit will be the interface between the SC and the Bumiputera community. Members of the Bumiputera community may consult the Bumi Unit for clarification and assistance on matters which are within the purview of the SC such as those relating to listing applications and licensing procedures," said the SC Chairman Encik Ali Abdul Kadir.

However, in playing it's coordinating role, the Bumi Unit will not be the direct receiving point for Bumiputera applications but instead, will work within the system to coordinate, track and monitor progress of Bumiputera applications.

While the SC may provide clarification to enquiries regarding the capital market, all applications for listing and other corporate proposals must still be made through the merchant banks and processing will be subjected to the SC guidelines.

Additionally, in line with the efforts of the SC on the educational front, the Bumi Unit will also be the contact point for Bumiputera groups seeking support for educational activities or events that will benefit the community as a whole.

The Bumi Unit may be reached at:

Bumiputera Unit
Chairman's Office
Securities Commission
No. 3, Persiaran Bukit Kiara, Bukit Kiara
50490 Kuala Lumpur
Faks: 03-651 5078
e-mel: [email protected]

Contact persons are: Ida Mariana Azmi (Tel: 03-654 8107); Syed Tarmizi Syed Tamrin (Tel: 03-654 8623) or Nafizah Omar (Tel: 03-654 8550).

The SC expects the Bumi Unit to be an important and efficient source of information for the Bumiputera community.

"We hope that the Bumiputera community will make full use of this facility, which we see as an important step towards encouraging their participation in the capital market for fund raising purposes or as licensed intermediaries," the SC Chairman said.


Issued on behalf of the Securities Commission. For assistance please contact the Corporate Affairs Department at tel no. 03-6548513 (Ann Teoh) / 03-6548107 (Ida Mariana Azmi) or fax no.: 03-6515078.
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