KUALA LUMPUR: Malaysia and Singapore have agreed to establish a market corridor to connect both countries, alongside a trading link between the respective stock exchanges to spur further mutual benefits and harness economic potential, Prime Minister Datuk Seri Najib Razak said.
This “Malaysia-Singapore Connect” will provide investors on both sides of the causeway with easier and seamless access to each other’s markets with a combined capitalisation of more than US$1.2 trillion and 1,600 public listed companies, he said in his keynote address at the World Capital Market Symposium 2018 here today.
The prime minister said the establishment of the market corridor followed discussions he had with his counterpart, Lee Hsien Loong.
He said Malaysia and Singapore agreed that both stock exchanges had reached a sufficient level of sophistication and degree of maturity for the establishment of the market corridor.
Following the decision, a regulatory arrangement will be worked on by the countries’ relevant authorities, to pave the way for the establishment of the trading link. — Bernama