KUALA LUMPUR (March 1): Bursa Malaysia Bhd chairman Tan Sri Abdul Wahid Omar (pictured) has urged leaders of public listed companies (PLCs) to take part in a transformation programme for PLCs.

The PLC Transformation (PLCT) Programme aims to nurture the growth of corporate Malaysia and create a more attractive marketplace for both domestic and foreign investors, he said.

“I urge all PLC leaders and industry champions to take part in the PLCT Programme by embracing the aims of the programme and take action to improve performance levels for the mutual benefit of their companies and the nation.

“As our first step, Bursa Malaysia will publish five digital guide books in 2022 for our PLCs. These guidelines will be applicable to PLCs of all sizes and will guide them towards improving their performance and becoming more attractive to global investors,” said Abdul Wahid in Bursa Malaysia’s latest annual report released on Tuesday (March 1).

While market volatility will remain largely beyond control, the chairman said that the main priorities in the coming year will be to improve Bursa Malaysia’s market competitiveness and to expand its role in nation building in addition to the implementation of various initiatives contained within Bursa Malaysia’s Strategic Roadmap 2021-2023.

“This will be crucial in our efforts and aspiration to be a multi-asset exchange, which is the next step forward in our strategic gameplan,” said Abdul Wahid, adding that the focus is on the PLCT Programme.

Abdul Wahid said the government has indicated that gross domestic product will expand between 5.5% and 6.5% as the recovery gains traction.

“Growth will be driven by the 12MP [Malaysia Plan] in which over RM400 billion have been allocated to finance projects, making it the largest ever development expenditure allocation in the country’s history.

“A record RM332.1 billion allocation was also announced in Budget 2022 to improve the Rakyat’s well-being, make businesses more resilient and develop a prosperous and sustainable economy. Collectively, these allocations should boost private sector demand, which will be key to driving economic growth in the coming year,” he added.