KUALA LUMPUR: The 2014 Budget is focused, pragmatic and provides the necessary ingredients to accelerate the growth of Malaysia's already strong marketplace, paving the way to attract global socially responsible investments worth some US$34 trillion (RM107 trillion).
Bursa Malaysia Bhd chief executive officer Datuk Tajuddin Atan said the budget intends to create a more vibrant marketplace and together with economic strength, the acceleration of the nation's transformation and the delivery on promises made will ensure the continued competitiveness of its capital market.
"In particular, as markets across Asean become more and more integrated, we are confident that a Bursa Malaysia-focused environmental, social and governance index will provide our marketplace with a distinct advantage to attract socially responsible investments worth US$34 trillion," Tajuddin said in a statement yesterday.
He added that the readiness of the public-listed companies to compete for socially responsible investments funds comes from the six years of effective syariah-compliant screening and profiling through its FTSE Bursa Malaysia Shariah Index Series and Corporate Social Responsibility annual reporting requirements that were also implemented in 2007.
"We are encouraged by Prime Minister (Datuk Seri Najib Razak)'s call to enhance our global competitiveness as a marketplace for socially responsible investments and Bursa Malaysia will do its part to move the prime minister's direction forward," he said.