KUALA LUMPUR: Malaysia will collaborate with Singapore to establish a market corridor connecting both countries with a trading link between their respective exchanges.
Prime Minister Datuk Seri Najib Tun Razak announced today the initiative as a measure to spur further mutual benefits and harness the economic potential of both countries.
“After discussions between Prime Minister Lee (Hsien Loong) of Singapore and myself, I am glad to say that we have agreed that both markets have reached a sufficient level, sophistication and degree of maturity for us to establish a market corridor connecting Malaysia and Singapore,” Najib said.
“This ‘Malaysia-Singapore Connect’ will provide investors on both sides of the causeway with easier and seamless access to each other’s markets with a combined market capitalisation of more than US$1.2 trillion and 1,600 public listed companies,” he added.
In his keynote address at the World Capital Market Symposium 2018 here today, Najib said a regulatory arrangement would be worked on by the countries’ relevant regulatory authorities to pave the way for the establishment of the trading link.
“This exciting initiative will indeed widen investment options for investors and contribute towards greater activity and vibrancy in both market,” he said.