BURSA MALAYSIA AIMING A MARKET TURNOVER VELOCITY OF 50 PCT

KUALA LUMPUR, April 14 (Bernama) -- Bursa Malaysia Bhd aims to improve the
market turnover velocity close to 50 per cent within two years from 33 per cent
last year, said its chief executive officer, Tajuddin Atan.

"The velocity for the last two years, seems to be stagnating at that point
in time. Changing velocity in a market like this involves many issues like
participants, market intermediaries, products and services and it takes a while
to roll out," Tajuddin told reporters after Bursa Malaysia's annual general
meeting (AGM) and extraordinary general meeting (EGM) here Thursday.

He said strategies had been worked out to achieve stock market's target.

"The direction set by the board remains intact. We'll focus in strengthening
the market and the key areas of the market ... equity, derivatives
and being the leader in sukuk listing, that is the area that we need to
capitalise," he said.

He said Bursa Malaysia was committed to ensuring that the market remained
sustainable and vibrant, in order to remain competitive in the region.

Asked on Initial Public Offerings (IPOs), Tajuddin said Bursa Malaysia was
looking at bringing in more quality and larger companies on board.

"We expect the trend to increase and we are looking for quality companies."

A total of 954 companies are listed on Bursa Malaysia (Malaysia's stock
exchange) todate.

Tajuddin said Bursa Malaysia's significant investment this year will be
towards mainly on upgrading the market surveillance system and derivatives
system.

"We have continuously enhanced our technology infrastruture. We have
budgeted RM70 million (US$23.33 million) in terms of capital expenditure that
could strecth across over two years," he added.