In units they trust

Article Abstract:

Significant problems are being experienced with mutual funds promoted and marketed by the Malaysian states of Johor, Sabah, Kedah, Selangor, Sarawak and Terengganu. These funds are reserved for ethnic Malays who are the key supporters of the United Malays National Organization, the dominant member of the ruling National Front coalition. Many of the investors have been poor villagers, who used up their life savings or borrowed to purchase units. Active marketing by state authorities seemed to indicate that a fund in difficulties would be rescued, but this has not proved to be the case.

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Land of alternatives

Article Abstract:

Unit trusts in Malaysia have had remarkable success since the stockmarket soared in 1993, bringing the potential return and the risks of stocks to peoples' attention. Unit trusts offer much of the potential benefit with few risks, and the number of accounts has doubled since 1990, to 6 million. The state-owned National Equity Corp and private Kuala Lumpur Mutual Funds have both done well, but further liberalization will give them more competition. The government hopes to lure Hong Kong fund managers worried about 1997.

Company Profile

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We mean business: Malaysian finance minister says reforms will continue

Article Abstract:

Malaysian finance minister and deputy prime minister Anwar Ibrahim promises continued liberalization of his country's financial markets and expects the advent of scripless trading in Kuala Lumpur to kill off Clob International in Singapore. He is excited by the reception he received in Hong Kong, where fund managers were concerned about bureaucratic and infrastructure issues. Ultimately he is sure liberalization in Kuala Lumpur will continue, with foreign brokers receiving Malaysian licenses.

Financial Services, Finance and Insurance, Management, Cover Story, Stock-exchange, Stock exchanges, Interview, Anwar, Ibrahim, Kuala Lumpur Stock Exchange Bhd.

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