BURSA MALAYSIA BERHADbursa.listedcompany.com/misc/DBSVickersPulseOfAsiaConf_14Jan2010.pdfBURSA MALAYSIA BERHAD. DBS Vickers Pulse of Asia Conference, Singapore. 14 January 2010. The

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BURSA MALAYSIA BERHAD

DBS Vickers Pulse of Asia Conference, Singapore14 January 2010

The Preferred Investment Destination

Bursa Malaysia and its Group of Companies (the Company) reserve all proprietary rights to the contents of this Presentation.

Whilst the Company endeavours to ensure that the contents in the presentation booklet are accurate, complete or have been obtained from sources believed by the Company to be accurate and reliable, neither the Company nor the Presenter make any warranty, express or implied, nor assume any

legal liability or responsibility for the accuracy, completeness or currency of the contents of this Presentation.

In no event shall the Company be liable for any claim, howsoever arising, out of or in relation to this presentation booklet to the recipient of this presentation booklet and/or to any other third party.

© Bursa Malaysia.2009

Nadzirah Abd Rashid, CFO

Highlights

Diversified Offerings 3

Business Direction 4

Our Strength in Islamic Markets 5

Key Focus and Initiatives 6

Malaysian Market Liberalisation 7

Liberalising Access for Foreign Participation 8

Diversified Offerings

3

OthersDerivatives

10 Derivatives Products:

Commodity futures Equity futures

& options Financial futures

SukukShari’ah compliant

equities i-REITS & i-ETFs Bursa Suq Al-Sila’

(commodity asunderlying asset)

Islamic Offerings

2 Markets: Main Market : 844 cos ACE Market : 116 cos

Equities

TradingListing Clearing Settlement Depository

Integrated Products and Services

Bond Market

Total Market Capitalisation : USD292 bn (RM999 bn) @ 31 December 2009

Strong Niche In Islamic and Commodities

electronic trading platform for : Government Bonds Corporate Bonds

Non-ringgit securities Islamic Sukuk cross

listing

Offshore Market

Business DirectionBursa’s Velocity Target (Mid-term) : 60%

4

Continue Growing Core Business

(Equity & Derivatives)

Establishing a niche in Islamic Capital Market

Attractive Investment &

Listing Destination

Building on advantage in Commodities Market

5

Our Strength in Islamic Markets

• Bursa tops list of exchanges for sukuk listings in2009, followed by Nasdaq Dubai and LSE.

• Approx. USD $17.6 billion sukuk listed.

• GE Capital became first foreign sukuk issuer.

• World’s first International trading platformfacilitating commodity based Islamic financing -launched August 2009

• Cross Boarder trades performed by Islamicfinancial Institutions, including those from UK andGCC countries.

• Awarded “Most Outstanding Islamic FinancialProduct” by KLIFF Islamic Finance Awards 2009.

International Islamic fund raising centre

Destination for global Islamic investment products

World’s Largest

Sukuk Market

6

Key Focus and Initiatives

Multicurrency ETFs

Implementation of Main and ACE Markets

Restructuring of minimum bids/spread size

Introduction of SBL-Negotiated Trade

Approval from CFTC, United States

Asean LinkMarket Making-Derivatives

FTSE BM Palm Oil Plantation Index Series

Market Making-Structured Warrants & ETFs

More Proprietary Day Traders

Multicurrency Securities Framework

KLCI Conversionto FTSE

Foreign IPOs

Launched in 2009

In The Pipeline

* Previously referred to as Bursa Commodity House

*

IMPROVING ACCESSIBILITY

NEW PRODUCTS & SERVICES

STRENGTHENING LIQUIDITY

INTERNATIONALISING MARKETS

Strategic partnership with CME on derivatives market

**

** CFTC approval to enable US investors to trade directly in our financial derivatives products

Direct Market Access - Equity

Continued Educationfor Retail

Internet TradingMarket Chat

7

Malaysian Market Liberalisation

Country

Recognition & Competitiveness

Free Capital Mobility& Improved Access to

Capital Market

New Economic Model - high value & high income Increasing private sector role in driving business Creating a conducive environment for entrepreneurship Focus on developing Human Capital & Innovation

4th for Investor Protection(World Bank)

10th for Resilience in crisis(Sevcorp Int’l Business Confidence Survey)

25th amongst 134 countries for Corporate Governance Framework (World Economic Forum)

25th among 127 Economies(Forbes Best Countries For Business Ranking)

Access for Foreign Participation No restrictions on international

investments in Malaysia. Free to repatriate capital, profits and

income.

Liberalised entry and ownership for

foreign players in the capital market. Foreign Listings

On country Watch List for FTSE Global Equity Index Series: Advanced Emerging

8

Liberalising Access for Foreign Participation

Foreign Shareholding for stockbroking firm raised to 70% New licenses for foreign brokers

Global players present in all segments of the Malaysian Capital Market

Issuance of bonds and sukuk in RM or non-RM 3 Chinese companies already listed – strong indications of more

to come

Issuer Amt (RM mil)

Industrial Bank of Korea 1,300

Exim Bank of Korea 1,220

OCBC Ltd 1,600

Gulf Investment Corp GSC 1,000

State Bank of India 500

KFW Bankengruppe 1,100

ADB 1,000

Notable foreign issuers of RM bonds

Continue to open access to capital market to attract foreign players

Investors

Issuers

Participants

Financial Review & Performance

Securities Market Overview 10

Derivatives Market Overview 11

Financial Result Snapshot 12

Financial Performance Ratios 13

Capital Management 14

Dividend Payout 15

Bursa’s Share Price Performance 16

Board of Directors and Shareholdings Structure 17

893

907

688

1,56

0

1,37

8

1,21

0

Securities Market Overview

10

No. of New Listed Call Warrant

No. of IPOs

Total Fund Raised*(RM bn)

2009 2008 %

124 81 53

14 23 (39)

27.8 6.1 356

* From IPO & secondary offerings

Velocity (%)

Average Market Capitalisation (RM bn)

Daily Average Trading ValueOMT +DBT (RM mn)

34 34 -

824 870 (5)

1,221 1,278 (4)

%2009 2008

3Q093Q08 4Q08 1Q09 2Q09Daily Average Trading Volume - OMT + DBT (mn)

Daily Average Trading Value – OMT + DBT (mn)

Turnover Velocity

FBM KLCI Index

LOWEST829.41 (29 Oct 08)

HIGHEST1293.17 (6 Jan 2010)

1018.68(As at 30 Sep 08)

1202.08(As at 30 Sep 09)

4Q09

25%32%

23%

48%

36%28%

24,522 24,169 23,862 29,42324,018

21,549

135,566

155,560147,771

117,030

142,266

123,141

Derivatives Market Overview

11

3Q093Q08 4Q08 1Q09 2Q09

Daily Average Contracts

o Total

o FCPO

o FKLI

24,749 24,878 (1)

16,165 12,111 338,056 11,777 (32)

Daily Average Contracts (Units) Open Position

4Q09

2009 2008 %

130.6

42.4

137.6

47.3

Financial Results Snapshots

12

220.3

79.1

235.2

66.6

9M09 9M08 3Q09 3Q08

81.3

30.8

90.9

20.2

15.4

5.8

17.3

3.8

Operating Revenue (RM mn) Operating Expenses (RM mn)

Profit After Tax (RM mn) Earnings Per Share (sen)

9M09 9M08 3Q09 3Q08

9M09 9M08 3Q09 3Q089M09 9M08 3Q09 3Q08

19%

6%

11% 11%

53%

5%

10%

53%

10.9 7.4 8.4

18.6

27.4

19.0 24.2

37.0

78.6

71.2 76.1 76.4

36.5 34.3 39.5

57.3

Financial Performance Ratios

13

3Q08 3Q094Q08 1Q09 2Q09

(%)

Annualised Return on Equity

Operating EBITDA Margin

Stable +Derivatives Revenue:

Total Operating Expenses

Net Profit Margin

90.5

58.0

35.6

16.4

Capital ManagementAs at 30 September 2009

14

• The Company has sufficient financial resources to cover its CAPEX, Clearing Guarantee Fund commitment and working capital. Excess cash will be conserved amidst market uncertainties.

• Aim to cut budgeted operating expenses and capital expenditure by 15%.

Commentary

Capital Expenditure

Shareholders’ Fund

Financial Resources Available for Use RM 426 million @ USD 122 million

RM 742 million @ USD 213 million

RM 20 million @ USD 6 million

Annualised Return On Equity * 14.7%

* Annualised ROE is based on 9 months returns

High Dividend Payout Maximizing Value to Shareholders, Payout Policy 75%

15

FINANCIAL YEAR

2009Interim Dividend

- Amount per share 5.1- Amount per share (Tax exempt) 5.0

Historical Dividend Payout (sen/gross)

92%FINANCIAL YEAR

2008- Interim Dividend 16.5- Final Dividend 7.8 91%

FINANCIAL YEAR

2007- Interim Dividend 32- Final Dividend 25- Special Dividend 28 91%

% of Dividend Payout(exclude special dividend)

0

500

1000

1500

2000

2500

3000

3500

4000

4500

Series1

-30%

-20%

-10%

0%

10%

20%

30%

40%

50%

60%

70%

16

Total Shareholders’ Return

o Since IPO

o YTD 31 December 2009241%57%

Share Price Performance

166%55%

o Since IPO

o YTD 31 December 2009

DAVFBM KLCI Bursa

Bursa’s Share Price PerformanceBase 0% = 2 Jan 2009 Units

17

Board Of Directors and Shareholdings StructureAs at 31 December 2009

13 Members

8 Independent Non-executive Directors

1 Executive Director 4 Public Interest Directors (also independent)

19%

19%

6.2% 17.6%

82.4%

Minister of Finance Inc.

Capital Market Development Fund

Newton Investment Management Limited

Foreign

Local

Market Capitalisation of Bursa Malaysia : RM4.2 bn (USD1.2 bn)

Substantial Shareholders Shareholding by Size

Additional Information

Market Foreign Ownership 28

Derivatives Market Demography 29

Derivatives Market Activity 30

Global Network 31

Liberalisation Efforts 32

Sound Macro Environment 33

Highlights of Budget 2010 34

Budget 2010 – Capital Market 35

Operating Revenue 19

Stable Revenue 20

Operating Expenses 21

Market and Product Diversity 22

Quarterly & Annual Velocity 23

Bursa’s Potential To Grow Its Velocity 24

Market Forward P/E Evaluation 25

Attractive Dividend Yields 26

Trading Participation 27

Operating Revenue

19

39%

17%

39%

5%

Trading Revenue (Securities)

Trading Revenue (Derivatives)

Stable Revenue

Other Operating Revenue*

48%

12%

37%

3%

3Q09:RM 79.1 mn

(USD 22.5 mn)

3Q08:RM 66.6 mn

(USD 20.0 mn)

RM mn 9M09 9M08 % 3Q09 3Q08 %

*Other Operating Revenue mainly comprises the haircut on interest earned from participants’ contributions & collaterals, and perusal & processing fees.

105.4

30.3

75.4

9.3

110.9

33.3

79.4

11.5

(5)

(9)

(5)

(19)

38.0

9.2

29.1

2.8

26.0

11.3

25.9

3.4

46

(19)

12

(18)

19%

• Higher securities trading revenue mainly due to improved investors’ sentiment, resulting from improving global economic statistics• Decline in derivatives trading revenue due to a drop in FKLI trades, but partially offset by higher FCPO trades.• Stable revenue increased primarily due to higher CDS fees.• Lower other operating revenue due to lower fee earned from cash margin & collaterals, and lower perusal & processing fees.

3Q09 vs. 3Q08 Commentary:

Stable Revenue

20

26%

43%

19%

10%

2%

34%

26%

24%

13%

3%

3Q09:RM 29.1 mn

(USD 8.3 mn)

3Q08:RM 25.9 mn

(USD 7.8 mn)

RM mn 9M09 9M08 % 3Q09 3Q08 %Listing Fees

Depository Services

Information Services

Broker Services*

Participants’ Fees**

22.6

24.4

18.3

8.1

2.0

28.0

20.5

18.4

10.3

2.3

(19)

19

(0.5)

(21)

(13)

7.6

12.4

5.6

2.8

0.7

8.9

6.6

6.2

3.4

0.8

(15)

88

(10)

(18)

(13)

13%

• Lower listing fees due to lower annual listing fees, impacted by lower market capitalisation.• Higher depository fees due to higher CDS fees (of which RM4.7 mn was attributed to prior periods)• Lower information services fees due to reduction in number of terminals subscribed.• Lower broker services fees due to phasing out of older network equipments at broker sites.• Lower participants’ fee due to lower admission from participants.

3Q09 vs. 3Q08 Commentary:

* Broker Services comprises of Data Comm. equipment rental income from a fixed monthly rate** Participants’ Fees comprises of application/ admission/ initial/ registration fees, participants’ subscriptions and renewal fees

Operating Expenses

21

3Q09:RM 42.4 mn

(USD 12.0 mn)

3Q08:RM 47.3 mn

(USD 14.2 mn)

Staff CostDepreciation & AmortisationMarket DevelopmentIT MaintenanceProfessional FeesBuilding Management CostsOther OPEX*

50%

22%

3%9%

3% 6%9%

46%

11%7%

7%9%

6%14%

•Other OPEX comprises administrative expenses, CDS consumables, conference expenses, etc.

RM mn 9M09 9M08 % 3Q09 3Q08 %60.027.43.711.17.87.513.1

64.814.311.011.08.47.420.7

20.59.11.33.71.42.53.9

21.75.03.53.54.32.76.6

(7)92

(67)1

(7.0)1

(37)

(6)83

(63)6

(67)(7)(41)

10%

• Lower total expenses mainly due to reduction in professional fees, lower market development & travel expenses and reversal of impairment on investments.

• Higher depreciation and amortisation mainly due to Bursa Trade Securities which went live in December 2008.• Higher IT maintenance due to BTS and ETP.

3Q09 vs. 3Q08 Commentary:

375

553

444

465

482

640

722

695

849

1106

870

824

736 758 798 816 865 906 963 1021 1027 987 977 960

Our Market and Product Diversity14 New Listings YTD 7 January 2010

98 99 00 01 02 03 04 05 06 07 08Average Market Valuation

Total Listed Companies

995

129137

41 3

25%ETFsREITsLoans

Main Market

Call Warrants ACE Market

12

Others

Leisure/ Gaming

Oil & Gas

Palm OilTelcos

Finance

Non-Shariah Compliant

Shariah Compliant

88% or 845 Shariah

Compliant Companies

64% or USD 186 bn in terms of market cap

8%12%

19%

23%

36%

2%

22As at 31 December 2009

09

Our Market

Market Valuation & Listed Company

No. of Counters Listed

Our Product Diversity

Shariah & Non-Shariah Compliant

Major sectors in FBMKLCI byMarket Capitalisation

910 1,107 782

1,283

2,610 2,303

2,069 1,751 1,907

1,187 823 854

615

1,490 1,266 1,099

-

400

800

1,200

1,600

2,000

2,400

2,800

Q106 Q206 Q306 Q406 Q107 Q207 Q307 Q407 Q108 Q208 Q308 Q408 Q109 Q209 Q309 Q409

RM mn

30%38%

27%

39%

68%

54%50%

41%46%

31%25%

32%23%

48%

36%28%

1,372

797

2,057 1,924

497 805 911

350 472 748 874 718

1,019

2,179

1,181 1,129

-

400

800

1,200

1,600

2,000

2,400

1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

RM mn

Annual DAV & Velocity58%

33%

57% 57%

31%

40% 39%

20% 23%

34% 32%25%

34%

53%

34% 34%

Quarterly & Annual Velocity

23

Quarterly DAV & Velocity

Daily Average Trading Value (RM mn) Turnover Velocity

Daily Average Trading Value (RM mn) Turnover Velocity

24

Bursa’s Potential To Grow Its Velocity

Source: World Federation Exchanges (WFE)

Average Velocity From Jan - Dec 2009

Philippine SE

Bursa MalaysiaNew Zealand Exchange

Indonesia SE

Singapore SE

The Stock Exchange of Thailand

National Stock Exchange India

Hong Kong Exchange

Taiwan SE Corp.

London SE

Tokyo SE

NYSE Euronext (Europe)

Australian SE

Shanghai SE

Korea Exchange

NYSE Euronext (US)

446%243%

229%178%

161%129%

107%98%

90%88%

85%

84%

64%60%

41%36%

29%

Shenzhen SE

Market Forward P/E Valuation

Source: Bloomberg – Forward P/E Valuation for main regional indices as at 31 December 2009

24.3 24.321.0

17.5 17.2 16.8 15.8 14.7 14.6 13.3 12.7

25

Hong KongTaiwan Shanghai India Malaysia VietnamSingapore Indonesia PhilippinesSouth Korea Thailand

Offers Attractive Dividend YieldsSelected Regional Markets – Dividend Yield

Australia (AS30)

Bursa (FBMKLCI)

China (SHASHR)

Hong Kong (HSI)

Indonesia (JCI)

Philippines (PCOMP)

Singapore (FSSTI)

South Korea (KOSPI)

Taiwan (TWSE)

Thailand (SET)

26

3.59%

3.49%

3.46%

2.86%

2.70%

2.46%

2.30%

2.22%

1.23%

1.00%

Source: Bloomberg – Dividend yield for main regional indices as at 31 December 2009

Trading Participation

27

43 4050 43

29 34 3724

33

51 5445 53 71 66 63

7667

7 7 11 10

2001 2002 2003 2004 2005 2006 2007 2008 2009

%Retail Trading Participation

71 68 76 69 63 65 63 5873

29 32 24 31 37 35 37 4227

2001 2002 2003 2004 2005 2006 2007 2008 2009

%Foreign Trading Participation

“Others”- refers to trades conducted for accounts not belonging to individuals/ institutions. Definitions of investors’ type clarified in 2004, hence reducing the type of investor falling under “others” category.

Retail Institutions Others Local Foreign

Market Foreign Ownership

9.02%

1.18%

2.22%

0.45%

0.30%

13.46%

Singapore

UK

Hong Kong

USA

Mid-East

Others

Foreign Ownership @ 31 December 2009Ja

n-07

Oct

-07

Apr

-08

Jul-0

8

Oct

-08

Apr

-07

Jul-0

7

Jan-

08

Apr

-09

July

-09

Jan-

09

28

26.63%

73.37%

Total Shareholdings (Units) Total Market Value (RM)Foreigners

o Direct Holdings

o Foreign Nominees

3.94 4.50%10.86 15.87%14.8%TOTAL

Foreign Shareholdings by Nationality Foreign Ownership (%)

Foreign Nominees

25.0 27.5

27.0

26.6

26.5

25.7

24.1

21.7

20.9

20.7

20.7

20.9

20.4%

Oct

-09

Derivatives Market Demography

3119 14 16 16 13 15 15 15

4548 45 43 40 40 41 46 45

36

5 3 3 2 2 2 2

14 23 31 37 40 45 42 37 38

2001 2002 2003 2004 2005 2006 2007 2008 2009

% FKLI

40 38 35 33 35 31 25 27 33

15 21 26 24 23 27 34 38 24

27 21 18 20 22 25 22 14 27

14 14 17 20 18 16 18 20 16

2001 2002 2003 2004 2005 2006 2007 2008 2009

% FCPO

29

2 Leading Derivatives Products, FKLI & FCPO

34%

63%

3%

9M09

3-Month KL Interbank Offered Rate Futures (FKB3)

KL Composite Index Futures (FKLI)

Crude Palm Oil Futures (FCPO)

48%49%

3%

9M08

* Local - A local participant is an individual who has been admitted as a participant inaccordance with The Rules, registered with SC and has the right to trade for himself -all futures contracts listed on the Derivatives Exchange.

LocalDomestic Retail

Domestic InstitutionsForeign Institutions

LocalDomestic Retail

Domestic InstitutionsForeign Institutions

2003 2004 2005 2006 2007 2008 2009

49K

66K

85K

159K

125K

156K

138K

Q108 Q208 Q308 Q408 Q109 Q209 Q309 Q409

139K

122K

136K

156K148K

117K

142K

123K

Derivatives Market Activity

30

26%

30,2

83

20,9

45

24,5

22

24,1

69

23,8

62

29,4

23

24,0

18

72%

2.0

2.6 2.54.2

6.26.1

6.1

Quarterly (Daily Average Contracts) Annually (Total, million units)

KLCI Futures

Crude Palm Oil Futures Open Position

Others KLCI Futures

Crude Palm Oil Futures Open Position

Others

21,5

49

Multi Commodity Exchange of India Limited Development of commodities market and for cross listing of products

Dalian Commodities Exchange Joint organizing of “China International Oil and Oilseeds Conference”.

Australian Securities Exchange Facilitating communication channels and fostering relations

Singapore Exchange Derivatives Trading Limited Exploring future business relationship opportunities

NYSE EuronextTechnology Solutions Provider for equities & DMA platform: Through NYX Advanced Trading Solutions

Global Network

Korea Exchange Development of Financial Market Trading Platform for the bond market in Bursa Malaysia

The Agricultural Futures Exchange of Thailand Development of commodities and futures markets

Ho Chi Minh City & Hanoi Securities Trading Centre Facilitating communication channels and fostering relations

Tokyo Stock Exchange Providing mutual cooperation on personnel training & information exchange

PT. Bursa Berjangka Jakarta Development of futures and commodities markets

Hong Kong Exchanges & Clearing Sharing market surveillance information

31

Chicago Mercantile ExchangeStrategic collaboration with CME on FCPO licensing, Globex services arrangement & equity participation

Central Depository Services (India) Ltd Establish cooperative relationship

Opening Our MarketCapital Market Liberalisation Announcements via Invest Malaysia

32

CALENDER YEAR

2009Deregulation of FIC Guidelines

• Guideline covering acquisition of equity stakes, mergers and takeovers removed• 30% Bumi equity for new IPOs dropped

Fund Management and Stockbroking Liberalisation

• Foreign shareholding for unit trust management companies raised to 70%, 100% for wholesale segment

• Foreign shareholding for stockbroking companies raised to 70%

Establishment of EKUINAS• A private equity fund to invest in sectors with high growth potential

GLCs to Focus on Core Activities• GLCs to dispose non core activities to give way for entrepreneurs and compete on a level playing

field with private sector

2008 • Streamlining of Bursa’s Main, Secondary and MESDAQ board• Market making framework• Liberalisation of bond market approval framework

2007 • Abolishment of real property gains tax• Divestment of government stakes in GLCs via ETFs• 1st incentive package for Iskandar Malaysia

2006• Khazanah driving GLC business transformation plan• Re-introduction of regulated shortselling & securities borrowing and lending• Liberalisation of foreign and dual listing• Consolidation of securities and futures law

2005 • New license for 5 foreign brokers and 1 foreign fund management license

Sound Macro Environment

• > 90% of assets are RM denominated

• Non-performing loan ratio at 2.2%

• >US$ 96.0 billion @ 15 October 2009

• Projected between 3% to 4%

• Overnight policy rate: 2.0%

• 2009 Consensus at 0.9%

• 2009F at US$ 25.3 billion, highest after China

Strong Banking Sector & Ample Liquidity

Healthy Foreign Reserves

2010 GDP Growth

Conductive Domestic Interest Rates

Manageable Inflation

Strong Current Account in the Region

33

Highlights of Budget 2010

34

Government to reduce role in economic activities : Initiating the 2nd Wave of Privatisation Finalising the implementation of GST Restructuring of fuel subsidy Intensifying FDI: Easing on procedures and conditions on equity ownership in local projects

MACROECONOMIC CONSIDERATIONS

Leveraging on niche areas: Tourism, ICT, Finance & Islamic Banking, Halal, Green Tech. Industries and Creative Industries

Attracting talented and skilled individuals from abroad: Simplifying the granting of PR Quality of Education: Providing more autonomy to Public Higher Education Institutions Intensifying R&D and Commercialisation activities: e.g. Rationalising all research funds and grants Expedite implementation of High Speed Broadband

INTERNATIONAL COMPETITIVENES

Improving the structure of budget allocation by adopting Outcome Based Budgeting (OBB) Simplifying access to SME financing by consolidating the various funds under a single agency Combating corruption: Implementing the Whistle Blower Act Providing incentives to Government agencies to generate revenue: Monetisation of govt. assets

INSTITUTIONAL REFORMS

35

Budget 2010 – Capital MarketIncreasing the Competitiveness of Malaysian Capital Market

Liberalisation of commission-sharing arrangements between stockbrokers and remisiers Motivate remisiers to galvinise interest in the stock market from retail investors Attract more remisiers to enter the market

Allowance of 100% foreign equity participation in corporate finance companies Diversify the level of offerings and talent in the Malaysian market Spur more corporate action in the market

Requirement for PLC’s to offer e-Dividend Reduce time and offer convenience to shareholders Issuers to benefit from ease of implementation

Tax incentives to develop Islamic Capital Market: Various tax & stamp duty exemptions on Islamic Financial Instruments

SECURITIES MARKET

ISLAMIC MARKET

Thank you

INVESTOR RELATIONSCONTACT INFORMATION

KOAY LEAN [email protected] 7306

INTAN DIYANA [email protected] 7049

E-mail : [email protected] : 603-2026 3684