Published on: Saturday, December 07, 2013
Kota Kinabalu: Chief Minister Datuk Seri Musa Aman has urged Sabahans to invest in the capital market, saying it would ensure them a stronger financial position in future.
"On behalf of the State Government, I welcome the existence of 12 branches of financial intermediaries, licensed by the Securities Commission Malaysia (SC) to operate in Kota Kinabalu and Sandakan, which offer corporate finance advisory services, securities and derivatives trading, fund management, trading and management of unit trusts, investment advice and private retirement schemes," he said in his speech at the launch of the "With the SC" roadshow at Suria Sabah Mall, Friday.
Musa, who is also State Finance Minister, was represented by State Rural Development Minister Datuk Raden Malleh.
The three-day roadshow beginning today targets to reach 10,000 potential capital market investors, and features 24 exhibitors including providers of capital market investment services, related institutions and federal as well asstate government entities, besides talks by senior SC and Bank Negara Malaysia officials and Private Pension Administrators (PPA).
Meanwhile, Sabah's strong economic potential will create opportunities for companies and individuals in the state to be more active in the country's capital market, which has rapidly grown to RM2.7 trillion, says the Securities Commission Malaysia (SC).
SC Chairman Datuk Ranjit Ajit Singh said over the last two years, companies have raked in RM209 billion from share and bond issues, the highest in the history of Malaysia's capital market.
"Malaysia has not only emerged as Asia's third largest bond market as a percentage of gross domestic product (GDP), but has also been recognised as the world's fifth largest initial public offering (IPO) destination in 2012," he said.
Ranjit pointed out Sabah's GDP, which grew 4.1 per cent last year, is expected to expand four to five per cent in 2014.
The SC is targeting 10,000 visitors to the seminars, workshops, night shows and interactive games at the roadshow, which features 25 exhibitors including providers of capital market products and services as well as related government agencies.
At the event, part of a nationwide investment public awareness programme, Ranjit and Radin jointly launched SC's first free mobile application, which enables investors to check the validity of an investment product.