Page 392 - Westport Guide To Malaysia

384 USEFUL INFORMATION
Tay Yu Hui, Director of Market Operations, and Datuk Muhamad Umar Swift, CEO of Bursa Malaysia, holding the awards for ‘Exchange of the Year’ and ‘Outstanding Project of the Year’ at the Regulation Asia Awards for Excellence 2021. The Exchange was honoured for its robust pandemic response, sustainability and ESG work, climate action leadership, market access initiatives, and for fostering a conducive environment for innovation.
Private Entities Reporting Standards (MPERS) - all
of which are recognised
as being of international standing. There is also abundant talent in the industry with the major multinational accounting, auditing, and consulting firms all having branch offices in Malaysia. In addition, there are a host of medium and small accounting firms operating on a smaller scale.
Foreign Exchange Policy
Malaysia maintains a
liberal foreign exchange policy, in line with its commitment to support
a competitive economy through the creation of an environment conducive
for trade, business and investment activities. Malaysian markets are easily accessible by global investors, with full mobility for the inflow and outflow of capital for investments. Non-residents are free to invest in any form of ringgit assets either as direct
or portfolio investments and are also free to remit out divestment proceeds, profits, dividends or any income arising from these investments in Malaysia.
In 2021, BNM further liberalised the foreign exchange policy to provide greater flexibility for businesses to manage their foreign currency obligations. The liberalisation was also aimed at strengthening Malaysia’s position in
Securities Commission
The Securities Commission Malaysia (SC) is a statutory body reporting to the Minister of Finance. It is the sole regulatory agency in charge of capital market regulation and development. The
SC is directly responsible for supervising and monitoring the activities of market institutions, including exchanges and clearing houses, and regulating all persons licensed under the Capital Markets and Services Act 2007.
The SC’s core functions of rule-making, authorisation, supervision and enforcement provide a robust framework that
promotes market integrity and investor protection. It also continues to facilitate digital innovation as the next engine of growth to create a capital market that is accessible, agile and accountable. For further information on
the SC’s roles, please visit W sc.com.my.
Accountants, Auditors & Consulting Firms Malaysia pursues and requires a high standard of financial reporting. There are three types of accounting standards
- Malaysian Financial Reporting Standards (MFRS), Private Entity Reporting Standards (PERS) and Malaysian