Asean Exchanges to launch this quarter, says Bursa chief
KUALA LUMPUR, July 18 – The launch of the Asean Exchanges is progressing well and is scheduled to take place in the current quarter, Chief Executive Officer of Bursa Malaysia, Datuk Tajuddin Atan, said.
He said there are some administrative regulatory issues to be addressed, adding he is hopeful that they can be concluded fast.
“It was first scheduled for launch in June, but due to the issues, we had to postpone. But now, we are ready.
“Technology-wise, all of us are already there but it is not easy to bring all the parties as one,” he told a press conference here today.
Tajuddin said Bursa Malaysia is ready for the Asean Exchanges and welcomes the move since the idea was mooted.
Asean Exchanges is a collaboration of the seven exchanges from Malaysia, Vietnam (two exchanges), Indonesia, the Philippines, Thailand and Singapore to promote the growth of the Asean capital market by bringing more Asean investment opportunities to more investors.
At end-March 2011, the combined market capitalisation of Asean Exchanges was about US$1.8 trillion with participation of more than 3,000 companies.
Asked on the possible induction of Felda Global Ventures Bhd (FGV) and IHH Healthcare Bhd in the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI), Tajuddin said: “They should. Because of the volume, they should in the next revision in December 2012.”
He said FGV should be included in the next revision, but IHH’s inclusion depends more on the date of the listing and regulations of the FTSE.
The FBM KLCI index series is reviewed semi-annually by the independent FTSE Bursa Malaysia Index Advisory Committee.
Among the companies currently in the list are Maybank Bhd, Sime Darby Bhd, CIMB Bhd, Petronas Chemicals Bhd and Maxis Bhd.
The FTSE Bursa Malaysia KLCI reserve list comprises the five highest ranking non-constituents of the index by market capitalisation – SapuraKencana Petroleum Bhd, SP Setia Bhd, IJM Corporation Bhd, Genting Plantations Bhd and Gamuda Bhd.
FGV, the world’s third largest oil palm operator, was listed on June 28, 2012, with an impressive debut on Bursa Malaysia at RM5.39, chalking up a premium of 84 sen over its offer price of RM4.55.
IHH, which has a global network operating 4,900 beds in 30 hospitals and over 24,000 employees worldwide, is expected to be simultaneously listed on Bursa Malaysia and the Main Board of Singapore Exchange Securities Trading Ltd on July 25.
Upon listing, IHH will have a market capitalisation of RM23 billion, making it one of the largest listed private healthcare providers in the world. – Bernama