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Chinese companies welcomed to be listed in Malaysia

(Xiinhua)
Updated: 2009-06-30 15:56

Malaysia welcomed China's good companies to be listed on the Malaysia Stock Exchange, a Malaysian business leader said in Kuala Lumpur on Monday.

China was a close trade partner of Malaysia and it was also very important to Malaysia's capital market, said Megat Majmuddin Megat Khas, president of the Federation of Public listed Companies Bhd.

The listing of China's good companies on Malaysia's stock market would benefit both China and Malaysia and it would be a win- win deal, he told Xinhua.

Good companies mean companies with good governance and management, Megat Majmuddin said.

Through listing in Malaysia, Chinese companies could obtain funds for development and make more profits, while Malaysia could share some of these benefits, he said.

Describing some of the current listed companies on the Malaysia stock market as less profitable, he said that the Malaysia stock market needed new players to energize the market sentiment.

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He also said that Malaysia has significant management talents and international management expertise which could help those Chinese firms listed on the Malaysia stock market improve management.

Malaysia also could be a gateway for Chinese companies which hope to penetrate into other markets, such as Europe, through the listing on the Malaysia stock market.

Megat Majmuddin also said that Malaysia currently has a significant fund pool in the country, especially in the private sector or individuals, describing the country has the potential.

He stressed that Malaysia exercises strong management over the companies in the country, adding that the Malaysian government is improving its policies to attract more foreign investors.

He said that more Chinese companies are expected to come to the Malaysia stock market.

FPLC was found in 1987 as a public company limited by guarantee. It is a non-profitable organization, whose members comprise of companies listed on the Malaysia Stock Exchange.