ASEAN Exchanges welcome inclusion of Hochiminh Stock Exchange in establishing cross-border trading

ASEAN Exchanges welcome inclusion of Hochiminh Stock Exchange in establishing cross-border trading

15/09/09

Five ASEAN exchanges – Bursa Malaysia, the Indonesia Stock Exchange, the Philippine Stock Exchange, Singapore Exchange Limited (SGX) and the Stock Exchange of Thailand entered into an Accession Agreement with the Hochiminh Stock Exchange today that will include the latter in a regional pact which will explore cross-border trading amongst the ASEAN capital markets via an electronic gateway. This Accession Agreement took place at the 9th ASEAN Exchanges CEOs Meeting in Kuala Lumpur of which Bursa Malaysia is the host.

This agreement followed a memorandum of understanding which was signed in Bangkok by the original five exchanges, excluding Hochiminh Stock Exchange, in February this year. This regional cooperation, which is considering an electronic linkage between participating markets via a single access point, aims to assist the ASEAN region to upgrade its capital markets in order to stay competitive. This initiative aims to establish an ASEAN Bulletin Board, which will display market data of participating exchanges and enable each exchange to feature stocks from its respective market.

According to Bursa Malaysia’s Chief Executive Officer, Dato’ Yusli Mohamed Yusoff, the inclusion of the Hochiminh Stock Exchange in the regional alliance further affirms the prospect and viability of this initiative which will connect the ASEAN markets electronically and more efficiently.

Dato’ Yusli added, “As the host of the 9th ASEAN Exchanges CEOs Meeting and on behalf of all five original ASEAN exchanges, Bursa Malaysia welcomes the participation of Hochiminh Stock Exchange into this regional collaboration which will offer a more competitive and facilitative ASEAN platform for global investors. Bursa Malaysia and the member exchanges share the view of reaping long term value in such strategic collaboration as it will elevate the ASEAN Exchanges as a group by combining the respective markets’ economic and financial strengths.”

Mrs. Phan Thi Tuong Tam, Senior Deputy CEO of Hochiminh Stock Exchange said, “We have been standing side by side with the ASEAN exchanges for nearly two years since the ASEAN Link project was initiated by the ASEAN countries. We have always expressed our desire and willingness to join the linkage, and today, by signing this MOU, Hochiminh Stock Exchange would like to commit ourselves more deeply and comprehensively to this project. Each ASEAN exchange has its own particular strength and through the linkage, they will have good opportunities to develop such strengths as well as utilise their advantages in the area by creating the common, unique, firm and well-diversified image of ASEAN.”

Mrs. Phan added, “On this occasion, we would like to thank the participating ASEAN exchanges for giving us the good opportunity to stand together in this unique community and we hope to be able to contribute to the success of the whole initiative.”