PETALING JAYA: The Securities Commission Malaysia’s (SC) third Capital Market Masterplan (CMP3) will be one of the key enablers for wider participation in the nation’s growth through a more inclusive and accessible investment products and distribution channels, said Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz (pix).
“With the CMP3 as a strategic guide for our capital market over the next five years, I am confident that it will continue to play an important role in the Malaysian economy,” he said at the launch of the master plan today.
By end-2020, Zafrul pointed out the country’s capital market grew by a compounded annual growth rate (CAGR) of 5.3% to RM3.4 trillion, underpinned by continuous fundraising activity in the equities and bond market.
The SC’s latest masterplan will build on the success of its predecessors, the CMP1 (2001-2010) and CMP2 (2011-2020) which successfully expanded the capital market while ensuring market stability and integrity.
It highlighted that Malaysia’s capital market has transformed into a well-diversified one with over 900 companies listed in the equity market, the third largest bond market in Asia as well as an innovative and globally well-regarded Islamic capital market.
Against the current backdrop, SC chairman Datuk Syed Zaid Albar opined that the country is now at a critical juncture in its post-pandemic journey and it is imperative for the capital market to continue to support the economy amid the transition into an inclusive and sustainable nation.
“The progress in the capital market cannot be measured solely by growth and size, as it also has to serve the underlying needs and aspirations of the country and its people,” he said.
“It will be our collective responsibility to bring these strategic thrusts and desired outcomes to fruition, for us to achieve meaningful change. This is a shared journey for all of us to undertake. We will be stronger together.”