FROM THE BOARD OF DIRECTORS AND SENIOR MANAGEMENT

Chairman's Letter to Shareholders

WE HAVE CONTINUED TO CREATE SHAREHOLDER VALUE AND GROW SHAREHOLDER RETURNS, thanks to our continued efforts to develop the Malaysian capital market and our focus on financial discipline.

Despite posting a record high of 1,892.65 points in July and a historical high of 7.67 billion shares traded in August 2014, the FBM KLCI fell to multi-month lows in December dragged down by investor concerns over earnings growth of listed issuers and plunging oil prices. The benchmark index closed 2014 at 1,761.25 points, down 6% from 2013.

The silver lining amidst the gloom is that the Exchange remains operationally sound and was, for the third consecutive year, the largest fund raising destination in ASEAN with a total of RM24.3 billion raised through IPOs and secondary market.

More importantly, we have continued to create shareholder value and grow shareholder returns, thanks to our continued efforts to develop the Malaysian capital market and our focus on financial discipline.