CEO Morning Brief

Bursa-RAM JV Gets SC Nod to Operate New Debt Fundraising Platform

Publish date: Wed, 07 Jun 2023, 08:37 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (June 6): Bursa Malaysia RAM Capital Sdn Bhd (BR Capital), a 51:49 joint venture between Bursa Malaysia Bhd and RAM Holdings Bhd, has received approval-in-principle from the Securities Commission Malaysia (SC) to manage and operate a new debt fundraising platform.

The approval, received on June 2, is for BR Capital’s application to be registered as a recognised market operator under the SC’s guidelines on recognised markets.

This follows a shareholders’ agreement inked between Bursa and RAM last December to develop a new debt fundraising platform.

“We are appreciative of the SC’s support and are excited to be making good progress towards offering this new solution — investment notes as an alternative option for fundraising by small to mid-sized companies, while providing more investment opportunities to investors,” Bursa Malaysia chief executive officer (CEO) Datuk Muhamad Umar Swift said in a statement.

“This upcoming fixed income solution is part of our aspiration towards truly being a multi-asset exchange,” he said.

RAM CEO and executive director Chris Lee said the platform will broaden fund raising avenues for both listed and unlisted entities, while providing new fixed income investment opportunities to all investors. “This collaborative achievement positions us to drive sustainable growth in the Malaysian capital market,” he added.

Source: TheEdge - 7 Jun 2023

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