Government Will Not Rescue Troubled Developers
- Government Will Not Rescue Troubled Developers
- Bursa Malaysia Introduces New Trading Features to Enhance Flexibility
- Malaysia Reaffirms Importance of Global Electronic Commerce
Second Finance Minister Datuk Seri Johari Abdul Ghani said the government will not bail out property developers, particularly those building high-end projects, who failed to sell their units and faced financial difficulties. The government has frozen approvals for luxury developments from 1 November 2017 to stabilise the property market. “This is a temporary freeze and not a blanket ban and when we see that things are better, we will review the situation. There is no particular timeline for the freeze. “The concern is at the fringes of the Klang Valley, Johor and Penang. Datuk Seri Johari said problems would arise when developers failed to sell the high-end properties, priced between RM2 million and RM3 million. (Bernama)
Bursa Malaysia Introduces New Trading Features to Enhance Flexibility
Bursa Malaysia has introduced new trading features, providing alternatives for market participants to efficiently execute a greater variety of trading strategies.
The new and enhanced trading features are:
- Good-Till-Cancel – a new order validity that remains in the order book until it expires after 30 calendar days, or is cancelled by the investor or withdrawn by the Exchange before expiry
- Stop Market and Stop Limit – enhanced to allow investors to submit these order types with pairing of Day, Good-Till-Date or Good-Till-Cancel validity. These enhancements also allow Stop Orders to be submitted during Pre-Opening and Pre-Closing phases.
Chief Executive Officer of Bursa Malaysia, Datuk Seri Tajuddin Atan said, “Enhancements of these market mechanisms will provide investors greater flexibility in managing their orders, enabling refinement of trading and risk management strategies. The expansion of order types and validity is timely, considering the growing sophistication of market participants.” “The Exchange will continue to undertake initiatives to provide a more efficient and facilitative market framework, complementing our efforts of making available a greater breadth of investment product offerings. Though seemingly incremental in isolation, these initiatives will collectively move us towards our vision of being the region’s leading marketplace. As Bursa Malaysia becomes one of the leading centers for trading in the region, the Exchange will continue to extract further value from our trading engine to broaden trading opportunities for market participants,” Datuk Seri Tajuddin concluded. (Bursa Malaysia)
Malaysia Reaffirms Importance of Global Electronic Commerce
Malaysia has joined 69 other WTO Members in reaffirming the importance of global electronic commerce and opportunities it creates for inclusive trade and development in the WTO. The group issued a Joint Statement to express their goal to advance electronic commerce work in the WTO to enhance the benefits of electronic commerce for businesses and consumers internationally. This is in recognition of the important role of the WTO in promoting open, transparent, non‐discriminatory and predictable regulatory environment in facilitating trade. The group will initiate exploratory work towards future WTO negotiations on trade‐related aspects of electronic commerce. The first meeting by the Group is expected to commence in the first quarter of 2018. A statement from The Ministry of International Trade and Industry said electronic commerce can help lower barriers to entry and operating costs for businesses, particularly Micro, Small and Medium Enterprises (MSMEs). With the recently launched Digital Free Trade Zone (DFTZ) initiative and the National E-commerce Strategic Roadmap, Malaysia has already institutionalised key trade facilitation measures to boost cross‐border exports by SMEs including introducing less burdensome documentation requirements and processes, as well as providing reduced time for cargo clearance to enable SMEs to integrate into the global value chain. Malaysia views the work programme in WTO as an important impetus to facilitate further integration of small businesses into the global trading system. (MITI)