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Japan’s stockbroking firm to be set up in Malaysia

In Uncategorized on September 27, 2008 at 7:52 am

Kuala Lumpur (VNA) – Japan’s largest securities firm Nomura Group will set up a stockbroking company in Malaysia after Malaysia’s Securities Commission approved its application, local media reported.

Nomura’s presence in Malaysia was expected to further encourage a greater inflow of funds from Nomura’s global network, including from Japan and the Middle East, and promote the Malaysian capital market to global investors, Malaysia’s Securities Commission Chairman Zarinah Anwar was quoted by Bernama news agency as saying.

The approval granted is one of the three stockbroking licences available to be issued to leading foreign stockbroking firms, a measure announced in Budget 2009 last month to strengthen Malaysia’s position as an international Islamic financial centre, the Securities Commission said.

In granting the approval, the commission had considered, amongst other factors, the scope of operations which would will be established by Nomura in Malaysia, their stockbroking and capital market experience, expertise and geographical presence.

Nomura is expected to play a key role in promoting the intermediation of funds from the Middle East to Malaysia given its operations in the Middle East.-

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