KUALA LUMPUR: The Securities Commission (SC) has today launched its third Capital Market Masterplan (CMP3), which will serve as a strategic framework for the growth of Malaysia's capital market over the next five years.
CMP3 was unveiled at a virtual ceremony by Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.
Speaking at the launch, Tengku Zafrul said the CMP3 fitted well into the nation's aspirations as one of the key enablers to pave the way for a wider population to participate in the nation's growth.
This is by enabling more inclusive and accessible investment products and distribution channels.
"With 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," he said at the virtual launching ceremony today.
Tengku Zafrul said by end of 2020, Malaysia's capital market had grown by a compounded annual growth rate (CAGR) of 5.3 per cent to RM3.4 trillion, underpinned by continuous fundraising activity in the equities and bond market.
The SC chairman Datuk Syed Zaid Albar said as Malaysia was now at a critical juncture in our post-pandemic journey, it was imperative for the capital market to continue to support the economy as it transitioned 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.
"It will be our collective responsibility to bring these strategic thrusts and desired outcomes to fruition, for us to achieve meaningful change.
"This is a shared journey for all of us to undertake. We will be stronger together," he said.
The SC said over the last two decades, CMP1 and CMP2 had 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 and an Islamic capital market that is innovative and well-regarded globally.