"KUALA LUMPUR: Prime Minister Datuk Seri Abdullah Ahmad Badawi yesterday announced a streamlining of Bursa Malaysia’s main and second boards, as well as the structure of Mesdaq market.
He said the two boards would be combined into a unified board for more established companies with strong financial track records.
Abdullah, who is also Finance Minister, said the Mesdaq market would be revamped under the proposed streamlining process to allow smaller companies to access the equity market at an earlier stage of their lifecycle.
“The unified board will have uniform listing requirements and comprehensive disclosure based regulations with easy entry and fast removal access.
“For Mesdaq, the listing of emerging companies will be sponsor-driven whereby advisers will play a greater role in bringing listings to the market and maintain on-going supervision by reducing the number of boards and the number of listing requirements,” he said in his keynote address at Invest Malaysia 2008."
Adapted from The Star 26 March 2008
My Country, My Opinions
No wonder Lim Keng Yaik earlier called Pak Lah to sack his advisers, if he cares to retain his leadership. If he is sharp, he should demand higher quality of programs from his ministry and SC. This show how weak his standards are, always never mind.
To progress, you need to be a tough boss, demand high standards - no compromise. You must be capable to sift through good and bad programs, not just rubber stamp. Is this the way to announce to hundreds of fund managers why Invest Malaysia 2008? You will get quality companies by just removing the Main board, Second board, Mesday board? headings from newspaper stocks quote. Then you can get more people to buy Malaysian stocks. Hello, I don't get it at all. Malu, manyak Malu-lah!!! Feel like we all still live on the coconut trees. I am sure our intelligence and civilization have evolved much further than that!
Shut up, Turtle, shut up. Control your emotions. OK, I am cool, I am cool. But.............
Second point, there is a serious mistake in their diagnosis-lack of liquidity. They apply the wrong medicines - you cannot cure lack of liquidity by finding market makers and merging a few companies. Company market capitalization defines how valuable is your company. Value depends on performance. Performance depends on quality of people. Quality of people will depend how they attract and retain talents.
There are structural problems, we need to get down to the root, find it and fix it. Keep giving out incentives is the wrong way to go, no wonder we did so badly.
Talking about attracting foreign money? If they continue to do this, they can't even retain my money from going out from Malaysia.
Shut Up, Turtle, Shut Up! Geez ................ I am running out of breath !
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