19-6-2023 (KUALA LUMPUR) Malaysia is set to introduce reforms this year aimed at facilitating easier listing of companies on the national stock exchange, according to Prime Minister Anwar Ibrahim. The move is part of a strategy to attract more investors and enhance the competitiveness of Malaysia’s capital market.
Speaking at an industry event, Anwar stated that the securities regulator and the stock exchange will streamline the process for initial public offerings (IPOs) and reduce the time-to-market, ensuring a more efficient and attractive environment for companies seeking to go public.
In addition, Anwar announced a reduction in stamp duty charges on shares traded on Bursa Malaysia, the country’s stock exchange. Starting from July, the stamp duty rate will be lowered from the current 0.15 percent to 0.10 percent of the contract value, with a maximum cap of 1,000 ringgit ($216.78) per contract. This reduction aims to decrease the cost of securities transactions and enhance the competitiveness of the Malaysian stock market.
Anwar also highlighted the government’s focus on attracting family offices to Malaysia and improving the ease of doing business in the country. These measures are part of a broader agenda of legal and economic reforms initiated by Anwar’s administration since assuming power in November last year. The reforms include subsidy reductions for the wealthy and the abolition of the mandatory death penalty.
The upcoming reforms in Malaysia’s stock market and the reduction in stamp duty charges are expected to stimulate investor interest and bolster the country’s capital market.
