KUALA LUMPUR (July 27): The government will allow the trading of smaller share lots and fractional shares in efforts to revive Malaysia's capital market.
This came after the government lowered the stamp duty for shares traded on Bursa Malaysia on July 12 to 0.1% from 0.15% of the contract value, subject to a maximum cap of RM1,000 per contract.
In addition, the initiatives also include the Securities Commission Malaysia (SC) enabling automatic transitions for companies listed on the ACE Market to the Main Market, said Prime Minister Datuk Seri Anwar Ibrahim at the launch of Ekonomi Madani on Thursday (July 27).
Anwar, who is also the finance minister, said the capital market must also be more vibrant, with more company listings that will create new local "unicorns", while the banking system and capital markets should act quickly in fulfilling business financing needs.
Meanwhile, Anwar said the SC would develop a reform policy for financial markets, with the aim of facilitating investment for retail investors, attracting more investors to finance local small and medium enterprises and invest in new growth activities, and raising the level of competitiveness of the capital market at the international level.
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