The Securities Commission Malaysia, the Monetary Authority of Singapore, and the Securities and Exchange Commission of Thailand have signed a Memorandum of Understanding (MoU) to enhance the ASEAN Collective Investment Schemes (CIS) Framework.
The ASEAN CIS framework enables fund managers operating in one jurisdiction to offer funds constituted and approved in that jurisdiction to retail investors in the other two jurisdictions under a streamlined authorisation process.
The local banking industry lauded the soon-to-be established Malaysia-Singapore Connect, as announced by the Prime Minister Datuk Seri Mohd Najib Razak at the World Market Capital Symposium yesterday.
Najib announced the establishment of the Malaysia-Singapore Connect, which will enable stock market investors from each country to trade in the other,seamlessly and enable investors from both countries to access into a market capitalisation (market cap) of over US$1.2 trillion, through over 1,600 public listed companies.
The Securities Commission Malaysia (SC) and the Monetary Authority of Singapore (MAS) will work together to facilitate the establishment of a stock market trading link between Bursa Malaysia (BM) and Singapore Exchange (SGX) by the end of this year.
The trading link will allow investors to trade and settle shares listed on each other’s stock market in a more convenient and cost-efficient manner. Retail investors notably will benefit from such a link.