The government-run Securities Commission SC has been working on its plan to boost the Malaysian capital markets for well over a year and released the final report at the end of February. Following the Asian crisis, the effects of which still linger, as well as heightened global competition, the SC identified the need to expand fundraising capacity and bring Malaysia more into line with international standards. The master plan was born as a result. If anything, the regulators seem to have looked towards the successful evolution of the Singapore markets, where progress has been largely a result of considered and detailed planning as opposed to a more laissez-faire approach.
In terms of overall objectives,...