Budget addresses critical areas to build Bursa's competitiveness

Sin Chew Daily, 29 September 2012

KUALA LUMPUR, Sept 29 (Bernama) -- The Budget 2013 addresses critical areas of focus that will build Bursa Malaysia's competitiveness, its Chief Executive Officer, Datuk Tajuddin Atan said.

He said the market will see easier and cost competitive access to raise capital from Malaysia, especially for the issuance of bonds and sukuks traded on Bursa Malaysia.

"As expenses for the issuance of exchange traded bonds and sukuk will be given a double deduction for a period of four years, we expect exchange traded bonds on Bursa Malaysia to grow rapidly and attract foreign issuances out of Malaysia," Tajuddin added, in a statement today.

He said the DanaInfra Nasional Bhd issuance of retail bonds worth RM300 million by end- 2012 to finance the Mass Rapid Transit (MRT) development projects will spearhead the listing of exchange traded bonds and sukuks.

"It will provide an additional, cost effective method to raise capital as well as provide both domestic and foreign investors, price transparency and flexible access to the stability of bonds and sukuk," he added.

(Web Source: http://www.mysinchew.com/node/78185)