KUALA LUMPUR, March 25 – Malaysia’s capital market grew by 5.6 per cent last year to RM3.8 trillion, largely driven by a vibrant bond market.
Securities Commission (SC) chairman Datuk Seri Dr Awang Adek Hussin said the fund management industry also contributed to the resilience of the local capital market, with total assets under management hitting a new high of RM975.5 billion.
“(This was) up sharply from RM906.5 billion in 2022 and even higher than the RM951.1 billion recorded in 2021,” he said in the SC Annual Report 2023 released on Monday.
He said this shows that the Malaysian economy remained resilient in 2023, supporting economic activity and intermediating savings, despite global economic challenges and divergent monetary policies.
However, Awang Adek said that like most markets in the region, the country’s equities market did not perform as well in 2023 due to global headwinds.
“The FTSE Bursa Malaysia KLCI (FBM KLCI) declined by 2.73 per cent during the year. Nonetheless, positive developments in our stock market in the first two months of 2024 have been most encouraging,” he said .
On efforts to enhance the capital market last year, Awang Adek said the SC has signed a memorandum of understanding with SME Corporation Malaysia to help groom micro, small and medium enterprises towards the goal of listing.
To uphold the integrity of the market, the capital market regulator has been relentless in its pursuit of those who violate these laws in 2023, achieving successful outcomes in cases of insider trading, securities fraud and offences related to the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
“For instance, in early 2024, we initiated criminal proceedings against individuals involved in alleged money laundering offences totalling RM183.5 million. Currently, we are dealing with 32 cases in various stages of legal proceedings.
“Through successful civil suits and regulatory settlements, we have identified RM4.5 million for restitution,” he said.
Awang Adek also noted that the SC established an internal task force to focus on scams and unlicensed activities last year.
“Through this initiative, we rolled out user-friendly tools,such as the Investor Alert page and ‘Scam Meter’, helping investors to stay informed and one step ahead of scammers.
“We also introduced the new ‘Investment Checker’ portal which provides a quick way for investors to verify the legitimacy of regulated activities,” he said.
Awang Adek said the commission is also establishing a dedicated unit to enhance its effectiveness in combating financial scams but investors must also exercise caution and take ownership of their investment decisions.
