PM: Bursa’s Main, Second Boards to be combined

KUALA LUMPUR: Prime Minister Datuk Seri Abdullah Ahmad Badawi announced on Tuesday that the three boards on Bursa Malaysia would be streamlined.

Speaking at the Invest Malaysia 2008 conference here, he said the Main and Second Boards would be combined to set up one board for more established companies with strong financial records.

Abdullah, who is also the Finance Minister, said the Mesdaq market would also be revamped under the proposed streamlining process.

He also said the government would allow a third credit rating agency to be set up and foreign strategic partners could hold 49% equity interest.

The highlights of his speech also include measures to liberalise approvals for bond markets and also a review of the implementation of economic plans.