Bursa Malaysia embarks on new strategic road map

File pic: Bursa Malaysia chairman Tan Sri Abdul Wahid Omar said the stock exchange has embarked on a new strategic roadmap that will outline its goals and key initiatives over the next three years.

PETALING JAYA: Bursa Malaysia Bhd has embarked on a new strategic roadmap that will outline its goals and key initiatives over the next three years.

In the company’s 2020 annual report released yesterday, chairman Tan Sri Abdul Wahid Omar said the initiative is part of the stock exchange operator’s development plans to move forward.

“As we take our first step forward, we must take into account the lessons learned during the pandemic, while we renew our commitment to supporting the market and contributing to the development of our economy.”

Wahid said Bursa Malaysia is mindful of the potential risk and opportunities from emerging technologies, as well as the rapidly changing operating landscape.

“The global economy, catalysed by the delivery of Covid-19 vaccines in record time, is expected to heal from the pandemic.

“Nevertheless, we must remain agile to respond robustly to powerful and defining trends on the horizon, such as the continuing innovations in financial technology to ensure that Bursa Malaysia continues to make progress and remains relevant to our stakeholders.”

Meanwhile, chief executive officer Datuk Muhamad Umar Swift said the new strategic roadmap will be built on five pillars, namely to strengthen its core business (securities market), diversifying the derivatives business, positioning Bursa Malaysia as the global hub for Islamic capital markets, providing new and improved services to the capital market and embedding sustainability within its organisation and marketplace.

“Our 2021 to 2023 strategic roadmap focuses broadly on three main strategies, namely product expansion, ecosystem development as well as capacity and capabilities building, ” he said in Bursa Malaysia’s 2020 annual report.Umar said the strategic roadmap would entail various initiatives to increase market vibrancy, including attracting a wider and more diverse investor base, as well as collaborating with strategic partners, such as working with key institutional investors to progress towards more sustainable offerings.“We are also looking to roll out several new products and asset classes, while building our capabilities in fintech via proof-of-concepts, such as our blockchain initiatives and exploration of artificial intelligence.”

Despite the economic uncertainties introduced by the Covid-19 pandemic, Umar said Bursa Malaysia is confident that the government’s stimulus packages, the gradual reopening of the economy and the progress of the Covid-19 vaccination efforts will aid in the country’s economic recovery and maintain the buoyancy of the markets.

“Our efforts to increase market vibrancy and liquidity prepared our market to support the increase in retail participation and the emergence of millennials in the securities market.

“Leveraging this positive momentum, the exchange will continue to introduce new initiatives and widen product offerings to enhance Bursa Malaysia’s attractiveness for a new generation of investors.”

Umar said Bursa Malaysia has been working closely with regulators to ensure market efficiency, as well as improve market accessibility and liquidity.

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