Reliance Capital AMC gets approval to operate in Malaysia
20 November 2008
Reliance Capital Asset Management Company, an Anil Dhirubhai Ambani Group company, has received approval from the Malaysian authorities to start operations in Malaysia, Zarinah Anwar, chairperson of the Securities Commission, Malaysia, told an India-Malaysia Capital Market Forum held in Mumbai.
Anwar said while a number of Indian joint ventures in the power, railways and construction sectors exist in Malaysia, India is also a major market for Malaysian construction companies.
The virtually non-existent inter-country investment in the financial and capital markets is not reflective of the existing trade and investment relationship between the two countries, with unexploited opportunities for capital market players in each other's country, she said.
The bond market in Malaysia, established for financing corporates, has risen to become the biggest current bond market in South-East Asia; and the investment management industry, with a growth rate of 20 per cent, is the fastest growing section of the Malaysian capital market, added Anwar.
SEBI chairman C B Bhave said both SEBI and the Securities Commission, Malaysia, which have jointly organised the forum, can work towards promoting closer relation between the two countries' financial and capital markets and inter-country investment involvement.