SC launches its third Capital Market Masterplan

Finance Minister Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz

PETALING JAYA: The Securities Commission has launched its five-year Capital Market Masterplan dubbed as CMP3 to build a capital market that is relevant, efficient, and diversified to enable the Malaysian economy to emerge fitter and stronger.

The regulator said that the CM3 is the third master plan, which will serve as a strategic framework for the growth of Malaysia’s capital market.

“The CMP3 fits well into the nation’s aspirations as one of the key enablers that will pave the way for a wider population to participate in the nation’s growth by enabling more inclusive and accessible investment products and distribution channels.

“With the CMP3 as a strategic guide for our capital market over the next five years, I am confident that it will continue to play an important role in the Malaysian economy,” said Finance Minister Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz at the virtual launch of CMP3 on Tuesday.

Despite the 2008 Global Financial Crisis and the Covid-19 pandemic, Zafrul said the Malaysian capital market has grown by a compounded annual growth rate (CAGR) of 5.3% to RM3.4 trillion from 2011 to 2020, underpinned by continuous fundraising activity in the equities and bond market.

SC chairman Datuk Syed Zaid Albar said the CMP3 takes into consideration global megatrends that will shape the recovery and growth of global and Malaysian economies as it steers the capital market towards three desired outcomes - relevant, efficient and diversified.

“Malaysia is now at a critical juncture in our post-pandemic journey.

“It is imperative for the capital market to continue to support the economy as we transition into an inclusive and sustainable nation.

“The progress in the capital market cannot be measured solely by growth and size, as it also has to serve the underlying needs and aspirations of the country and its people,” he said at the launch.

He pointed out that over the last two decades, the SC has introduced the Capital Market Masterplan 1 (2001 – 2010) and Capital Market Masterplan 2 (2011 – 2020), which have successfully expanded the capital market while ensuring market stability and integrity.

“Malaysia now has a well-diversified capital market, with an equity market that has over 900 listed companies, a bond market that is the third largest in Asia, an Islamic capital market that is innovative and well-regarded globally, a derivatives market that leads in crude palm oil price discovery and a unit trust industry that is one of the largest in the region,” Syed Zaid Albar said.

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