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36th MIBA Annual Dinner

Event Start Date 6th Nov, 2015 Venue HOTEL ISTANA KUALA LUMPUR

WELCOME REMARKS BY TAN SRI AZMAN HASHIM,

CHAIRMAN, MALAYSIAN INVESTMENT BANKING ASSOCIATION

AT THE 36TH MALAYSIAN INVESTMENT BANKING ASSOCIATION’S ANNUAL DINNER AT THE GRAND MAHKOTA BALLROOM, HOTEL ISTANA KUALA LUMPUR, FRIDAY, 6TH NOVEMBER 2015

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Bismillahirrahmanirrahim

YB Senator Dato’ Sri Abdul Wahid Omar, Minister in the Prime Minister Department

YB Datin Kay Roserina,

Fellow MIBA Council Members,

Distinguished Guests,

Staff of Investment Banks,

Ladies and Gentlemen,

Assalamualaikum, a very good evening to everyone.

On behalf of the Malaysian Investment Banking Association, it gives me great pleasure to welcome our Guest-of-Honour, YB Senator Dato’ Sri Abdul Wahid Omar and Datin Kay Roserina to our Annual Dinner tonight. Let me also extend a warm welcome to all our distinguished guests from Bank Negara Malaysia, the Securities Commission, Bursa Malaysia, the various Government Ministries and agencies, financial institutions, associations and investment institutions.

I am also pleased to welcome all members of MIBA and wish to thank everyone for their invaluable support, contribution and participation in making this Annual Dinner a success.

We are celebrating our 36th Annual Dinner tonight in conjunction with the conclusion of MIBA Games 2015. I am happy to note that we have achieved another successful year of friendly competition, sportsmanship and fellowship among members of the investment banks.

As Chairman of MIBA, I would like to thank all the sportsmen and sportswomen and members who have participated and contributed to the success of this year's Games. Let me also congratulate all the winners, particularly AmInvestment Bank Berhad for emerging as overall Champion, CIMB Investment Bank Berhad as the first runner-up and Maybank Investment Bank Berhad as the second runner-up.

Ladies and Gentlemen,

Uncertainty over global growth outlook and volatility in the financial markets continued during the course of the year. Being an open economy, Malaysia is not insulated and has also been impacted by downward market trends.

However, the Government and the regulatory authorities have been closely monitoring global market conditions to ensure that any adverse impact would be minimised. Proactive measures and reforms undertaken over the years to diversify and strengthen the Malaysian economy have allowed the country to sustain its momentum and our economy is expected to register a respectable growth of around 5% this year.

The banking and financial sector remains resilient and well-capitalised to facilitate and move economic growth. The Malaysian capital market also continues to be an increasing key source of financing for businesses, projects and new ventures.

Although fund raising activity is lower this year due to cautious market sentiments, funds raised in the capital market amounted to RM62.3 billion in the first eight months through equity offerings and private debt securities. There were 10 new listings as at end-October, bringing the total number of companies listed on Bursa Malaysia to 906, with market capitalisation standing at RM1.653 trillion.

Malaysia continues to pursue Islamic finance in the domestic financial market as well as internationally, and remains the leader in the sukuk market accounting for 54.9% of global sukuk outstanding as at end-June 2015.

The Government and the financial regulators continue to provide a stable and business-friendly environment to attract investments and promote growth. Several measures were undertaken during the year to further enhance efficiency and competitiveness of the Malaysian capital market which include the following:

  • In January, amendments were made to the Listing Requirements to strike a balance between enhancing market regulation and promoting business efficacy, and again in April to be in line with the introduction of the Goods and Services Tax Act 2014.
  • In June, the Securities Commission released the equity crowdfunding framework, and later introduced the Lodge and Launch framework for wholesale products with the aim to shorten time-to-market via an online submission system.
  • Revision was made to the Prospectus Guidelines in July to align requirements on financial disclosure with international practice. The admission criteria in the ACE market listing requirements were also amended to enhance competitiveness of the ACE market as a platform for listing and investment.

At the regional level, Malaysia is working closely with member countries to realise the ASEAN Economic Community to take effect on 31 December 2015. Major initiatives include financial services liberalisation, capital market development and banking integration in the region.

Close collaboration among economies in the region is important to strengthen ASEAN's resilience and improve efficiency as the ASEAN financial integration will be a catalyst to achieve sustainable growth for the economies in the region.

Ladies and Gentlemen,

We take note the Government is remaining steadfast in addressing the challenges emerging from uncertainties in the global economy and domestic economic issues. We believe that the Government and regulators will continue to roll out policies to enhance competitiveness and capitalise on the recovery when global economy picks up pace.

We in the investment banking sector are confident that with the Government’s continued efforts in providing an enabling environment for the financial sector and intermediaries, we will be able to rise up to the challenge and play our part effectively to support the country’s growth and aspirations.

As we advance forward to an increasingly complex financial landscape, MIBA will continue to take steps to upgrade the capabilities of the investment banking participants through continuous education and training to enhance knowledge, skills and competency of investment bankers.

MIBA is grateful to the Government and its agencies for their continuous support and assistance. On this note, let me extend our thanks and appreciation to all the officials of Ministry of Finance, Bank Negara Malaysia, Securities Commission, Bursa Malaysia, and other relevant regulatory authorities. MIBA has benefited greatly from the frequent dialogues, exchange of views and proposals with the regulatory authorities and agencies and we look forward to continue our close interactions in the coming year.

Ladies and Gentlemen,

I especially look forward to tonight's Investment Banks’ Talent Showcase where participating banks will be competing in a Duet Singing Competition. As the theme of our Dinner tonight is “My Favourite Cartoon Character”, the performers will be performing songs from cartoons or animated movie soundtracks. Tonight’s singing competition is a change from our usual staff group performances.

I am confident that the high standard of performances from previous years will be maintained and the competition is getting stiffer! The shows over the past few years had been very professional and most enjoyable. To all the performers, I thank you for making the effort and taking the time to practise and put on a show for us.

To all the Games prize winners, congratulations on your well deserved achievements. I also congratulate all the Games participants – it is nice to win but having taken part and being involved is just as important.

Once again, let me convey my thanks to YB Senator Dato’ Sri Abdul Wahid and Datin Kay Roseria for their presence here tonight. Also to all our guests and members of the Association for taking time to attend our Annual Dinner and making it a memorable one.

Let me also extend my appreciation to the Secretariat of MIBA for coordinating the MIBA Games 2015 and for organising tonight's event. I would like to thank Board and Council Members, Senior Management, Sports Presidents and Team Managers of all MIBA members for their support, cooperation and contribution in ensuring the success of the Games and tonight's Dinner.

To everyone here, I wish you all the best and hope you will have an enjoyable evening.

6 November 2015

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