News
Article Entitled: "Bursa Malaysia in Indonesia, Vietnam stake talks"
BackMar 16, 2007
| General Announcement Reference No BM-070316-41780 |
| Company Name | : | BURSA MALAYSIA BERHAD |
| Stock Name | : | BURSA |
| Date Announced | : | 16/03/2007 |
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| Type | : | Announcement |
| Subject | : | BURSA MALAYSIA BERHAD ("Bursa") Article Entitled: "Bursa Malaysia in Indonesia, Vietnam stake talks" |
Contents :
We refer to the query from the Securities Commission dated 15 March 2007 in relation to the article appearing in the Reuters on 15 March 2007 with particular reference to the sentences reproduced as follows:-
"Malaysian stock exchange operator Bursa Malaysia is in early talks to buy strategic stakes in the stock exchanges of Indonesia and Vietnam, Chief Executive Yusli Mohamed Yusoff said on Thursday"
"Asked if Bursa was already in talks to buy equity stakes in Indonesia and Vietnam, Yusli told Reuters in an interview: "On a preliminary basis, yes."
In this respect, we wish to inform that:-
(1) Bursa is in preliminary discussions with several exchanges around the region on possible areas of collaboration with the aim to ensure that Bursa has an active stake in the longer-term growth of Asian equity markets. Currently, Bursa is exploring various options of adding value to the markets which are foreseen as having the potential for high growth in the future. Bursa would like to see how it can add value to those markets, be it from a technology standpoint or from sharing of its product and business knowledge or best practices.
(2) Any proposal to acquire stakes in stock exchanges including the stock exchanges of Indonesia and Vietnam would have to be considered and decided by the Board of Directors of Bursa ("Board"). To-date, no such proposal has been made to the Board.
(3) While Bursa does not rule out the possibility of acquiring a stake in another exchange moving forward, at the moment there are no specific plans to do so. Bursa will make the appropriate announcement in a timely manner should there be any significant development on this matter in accordance with the Listing Requirements.
This announcement is dated 16 March 2007.
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Query Letter content:
We refer to the news article appearing in the Reuters on 15 March 2007, a copy of which is enclosed for your reference. In particular, we would like to draw your attention to the underlined sentences, which are reproduced as follows:
"Malaysian stock exchange operator Bursa Malaysia is in early talks to buy strategic stakes in the stock exchanges of Indonesia and Vietnam, Chief Executive Yusli Mohamed Yusoff said on Thursday."
"Asked if Bursa was already in talks to buy equity stakes in Indonesia and Vietnam, Yusli told Reuters in an interview: "On a preliminary basis, yes."
In accordance with the Securities Exchange's Corporate Disclosure Policy, you are requested to furnish the Securities Exchange and the Securities Commission with an announcement for public release confirming or denying the above article and in particular the underlined sentences after due and diligent enquiry with all the directors, major shareholders and all such other persons reasonably familiar with the matter about which the disclosure is to be made in this respect.
In the event you deny the above sentences or any other part of the above reported article, you are required to set forth facts sufficient to clarify any misleading aspects of the same. In the event you confirm the above sentences or any other part of the above reported article, you
are required to set forth facts sufficient to support the same.
Please furnish the Securities Exchange and the Securities Commission with your reply (via Bursa Link) within one (1) market day from the date thereof. Please incorporate this media query into the announcement, as with normal procedure for responses to queries.
Yours faithfully,
Shareena Mohd Sheriff
Head, Institution Supervision
Securities Commission