Kuala Lumpur Stock Exchange deals with share transaction. Initially led by the Singapore Stockbrokers’ Association, it became a separate identity in the later stages.
Kuala Lumpur Stock Exchange was earlier led by Singapore Stockbrokers’ Association, which was founded in the year 1930. It entered the stock market of Kuala Lumpur in 1938. Presently the market is under the control of the Malaysian Stock Exchange, which was set up in the year 1960. Stock Exchange of Kuala Lumpur is, however, still related to that of Singapore through telephone connection.
Singapore did not exercise a control over the Stock Exchange in Kuala Lumpur since 1965. The independence of the former led to the growth of the Kuala Lumpur Trade and Industry. Together it came to be known as the Stock Exchange of Malaysia and Singapore. As the currency exchange between Singapore and Malaysia had stopped in the year of 1973, Stock Exchange of Malaysia and Singapore faced a division. It was divided into Stock Exchange of Singapore and the Kuala Lumpur Stock Exchange Berhad.
The Kuala Lumpur Stock Exchange Berhad was established on the 14th of December in 1976. Since then it takes complete care of the stock exchange of Kuala Lumpur.
|
The name was however changed on 14th of April in 2004 to Bursa Malaysia Berhad. In 2007 it received the ISO certificate for Qulaity Management System, Environmental Management System and for its conformity to the ISO rules and regulations. The name was changed in order to boost the competitive position and react to the global market trends.
Functions of the Bursa Malaysia
Bursa plays two important roles in the economy of the country. It is responsible for investing in the private sector for the growth of the industrial sector in the first place and secondly, Bursa Malaysia, as a leading business concern, contributes in the development of the Investors Relations in Malaysia.
At present Bursa Malaysia, under the Malaysian Code on Corporate Governance, has begun preparing their own policies of Investor Relations. The policy formulation would increase the efficiency of the Bursa Malaysia by encouraging constructive relation and by facilitating interaction between the stockholders, investors and general public. The authorized shareholding capital at Bursa Malaysia is RM 1 billion. This is divided into 2,000,000 ordinary shares with a face value of RM 50 each.
Bursa Malaysia has come up with a new program to pick up dealers form different centers and with this in view they would hit the road very soon.
|
