Latest news with #Fad'lMohamed
The Sun
a day ago
- Business
- The Sun
Bursa Malaysia forms industry working group to strengthen cyber resilience in stockbroking ecosystem
Bursa Malaysia forms industry working group to strengthen cyber resilience in stockbroking ecosystem PETALING JAYA: Bursa Malaysia Bhd has formed a dedicated industry working group to enhance cyber resilience across the Malaysian stockbroking ecosystem. The establishment of the industry working group is a coordinated action, moving forward from the unauthorised trades incident on April 24. Bursa Malaysia CEO Datuk Fad'l Mohamed said the industry working group represents a concerted effort to strengthen the cyber resiliency of the country's trading ecosystem. 'The industry recognises that cyber resiliency is not just a technology best practice – it is the cornerstone of a trusted and vibrant capital market. A resilient ecosystem safeguards investor confidence, upholds market integrity, and ensures that our digital infrastructure can withstand and adapt to evolving threats,' he said in a statement today. The industry working group, chaired by Bursa Malaysia chief regulatory officer Julian M Hashim, comprises representatives from four bank-backed participating organisations (PO), two non-bank PO and two subject matter experts in the field of cybersecurity. The group held its inaugural meeting on Tuesday, where it finalised its terms of reference. Its mandate includes assessing current cybersecurity practices and identifying systemic vulnerabilities within the stockbroking ecosystem, developing industry-wide standards and best practices for information and communication technology risk management and incident response and recommending enhancements to regulatory frameworks and operational protocols to improve cyber resilience. Bursa Malaysia noted that the industry working group targets to finalise its recommendation paper within four months, with the subsequent implementation phase focused on the execution of the recommendations. Recognising the diversity in operational complexity across stockbroking firms, consultation with the industry will be carried out to ensure the recommendation paper is practical and fit for purpose. The establishment of the industry working group is part of a broader commitment to strengthen the industry's cyber resilience. In recent months, stockbroking firms have adopted precautionary measures such as mandatory password resets, enhanced monitoring of unusual logins, blocking suspicious Internet Protocol addresses, and issuing client alerts to ensure login details are always kept secure. In line with these efforts, Bursa Malaysia, on May 21 sent out a directive to mandate that all stockbroking firms implement multifactor authentication by the end of 2025. This requirement is a critical step towards enhancing the security of investor trading accounts and mitigating the risk of unauthorised access. Bursa Malaysia said it remains committed to safeguarding investor confidence and market stability through proactive regulatory leadership and collaborative action.
New Straits Times
2 days ago
- Business
- New Straits Times
Bursa Malaysia sets up working group to boost cyber resilience
KUALA LUMPUR: Bursa Malaysia Bhd has established a dedicated industry working group to enhance cyber resilience across the local stockbroking ecosystem, following the unauthorised trades incident on April 24. Chief executive officer Datuk Fad'l Mohamed said the initiative represents a concerted industry effort to strengthen the cyber defences of the trading ecosystem. "The industry recognises that cyber resilience is not merely a technology best practice — it is the cornerstone of a trusted and vibrant capital market," he said in a statement. "A resilient ecosystem safeguards investor confidence, upholds market integrity, and ensures that our digital infrastructure can withstand and adapt to evolving threats." The industry working group, chaired by Bursa Malaysia chief regulatory officer Julian M. Hashim, comprises representatives from four bank-backed participating organisations (POs), two non-bank POs and two cybersecurity subject matter experts. The group aims to finalise its recommendation paper within four months, followed by an implementation phase focused on executing the proposed measures. Recognising the varying operational complexities among stockbroking firms, Bursa Malaysia said consultations would be carried out to ensure the recommendations are practical and fit for purpose. It added the working group is part of a broader commitment to fortify the industry's cyber resilience. "In recent months, stockbroking firms have implemented precautionary measures such as mandatory password resets, enhanced monitoring of unusual login activity, blocking of suspicious Internet protocol addresses and issuing client alerts to safeguard login credentials," it said. In line with these efforts, Bursa Malaysia issued a directive on May 21 requiring all stockbroking firms to implement multi-factor authentication by the end of 2025. The exchange said this mandate is a critical step toward enhancing the security of investor trading accounts and reducing the risk of unauthorised access. "Bursa Malaysia remains committed to safeguarding investor confidence and market stability through proactive regulatory leadership and collaborative action," it added.
The Star
29-05-2025
- Business
- The Star
Bursa Malaysia, Fullgoal HK, CGS MY ink mou to facilitate foreign ETFs listing
KUALA LUMPUR: Bursa Malaysia Bhd , Fullgoal Asset Management (HK) Ltd (Fullgoal HK), and CGS International Securities Malaysia Sdn Bhd (CGS MY) have signed a memorandum of understanding (MoU) to facilitate the listing of foreign-underlying exchange-traded funds (ETFs) on Bursa Malaysia. This will provide Malaysian investors access to a wider range of investment options, while offering exposure to global markets, it said in a joint statement today. The MoU was signed by Bursa Malaysia chief executive officer (CEO) Datuk Fad'l Mohamed, Fullgoal HK CEO Zhang Lixin, and CGS International Securities group CEO Carol Fong at the ASEAN Business Forum 2025, on the sidelines of the 46th ASEAN Summit. "The MOU reflects the joint commitment by Bursa Malaysia, Fullgoal HK, and CGS MY to strengthen collaboration to promote capital market connectivity between China and Malaysia, enrich cross-border product offerings, and enhance the cross-border development capabilities of the asset management industry,' the statement said. Bursa Malaysia will continue to strengthen the local ETF ecosystem through a series of structured and strategic initiatives, including a focus on ecosystem development and stakeholder engagement, and the ETF challenge, which is designed to raise awareness and educate retail investors. "Currently, Bursa Malaysia offers investment opportunities via 17 ETFs managed by six issuers, with a total asset under management (AUM) of approximately RM2.4 billion,' it noted. Fad'l said the collaboration marks a pivotal step in expanding Malaysia's ETF landscape, offering investors greater diversity and access to global opportunities. "Together with Fullgoal HK and CGS International, we are committed to deepening market sophistication and driving sustainable growth in our capital markets. This initiative reinforces our position as an investment gateway, bridging Malaysia with global financial markets,' he said. Fullgoal HK chairman, who is also Fullgoal Fund CEO Chen Ge said the strong maritime ties between China and Malaysia are rooted in a long-standing friendship. "In light of this opportunity, Fullgoal Fund is committed to its 'going global' strategy. By leveraging our research expertise in equity, fixed income, and quant investments, we are enhancing our global asset allocation capabilities and exploring international investment opportunities,' he said. CGS International's Carol Fong said the company is honoured to bring its investment management, research, and distribution capabilities to facilitate the cross-listing of ETFs on Bursa Malaysia, with Fullgoal HK. "In the past two years, we have collaborated with Fullgoal HK on two ETFs in Singapore, which offer local investors unique opportunities to invest in markets and sectors that are hard to access. "We are excited to bring more ETFs to Malaysian investors, fulfilling our aim of making investing more accessible to the masses,' she said. - Bernama
The Sun
29-05-2025
- Business
- The Sun
Bursa, Fullgoal HK and CGS International in pact to facilitate ETF listings on M'sian market
PETALING JAYA: Bursa Malaysia Bhd, Fullgoal Asset Management (HK) Ltd and CGS International Securities Malaysia Sdn Bhd today signed a memorandum of understanding (MoU) to promote international financial integration and enhance the vibrancy of Malaysia's capital market. The tripartite collaboration aims to facilitate the listing of foreign underlying exchange-traded funds on Bursa Malaysia, providing Malaysian investors access to a broader range of investment options while offering exposure to global markets. The MoU was signed by Bursa Malaysia CEO Datuk Fad'l Mohamed, Fullgoal Fund CEO and chairman of Fullgoal HK Lixin Zhang, and CGS International deputy CEO Khairi Shahrin Arief Baki at the Asean Business Forum 2025 in Kuala Lumpur. The signing was witnessed by Malaysian Investment Development Authority (Mida) CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid on behalf of Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz. Other dignitaries present at the signing included China Galaxy Securities chairman Wang Sheng, Securities Commission Malaysia executive chairman Datuk Mohammad Faiz Azmi and Asean-Business Advisory Council Malaysia chair Tan Sri Nazir Razak. Bursa Malaysia said it continues to strengthen the local ETF ecosystem through a series of structured and strategic initiatives. These initiatives include those focused on ecosystem development and stakeholder engagement, as well as the ETF Challenge, which aims to raise awareness and educate retail investors. 'This collaboration marks a pivotal step in expanding Malaysia's ETF landscape, offering our investors greater diversity and access to global opportunities. Together with Fullgoal HK and CGS International, we are committed to deepening market sophistication and driving sustainable growth in our capital markets. 'This initiative reinforces Bursa Malaysia's position as an investment gateway, bridging Malaysia with global financial markets,' Fad'l Mohamed said. Currently, Bursa Malaysia offers investment opportunities via 17 ETFs managed by six issuers, with total assets under management of about RM2.4 billion. Fullgoal Fund and Fullgoal HK emphasised the strong maritime ties between China and Malaysia, rooted in a long-standing friendship. With the collaborative efforts of both governments to advance the Belt and Road Initiative, financial and economic cooperation has significantly deepened, they noted. CGS International group CEO Carol Fong said the company looks forward to bringing its investment management, research, and distribution capabilities to the partnership, facilitating the cross-listing of ETFs on Bursa Malaysia with Fullgoal HK. 'In the past two years, we have collaborated with Fullgoal HK on two ETFs in Singapore, which offer the local investors unique opportunities to invest in markets and sectors that are hard to access. We are excited to bring more ETFs to Malaysian investors, fulfilling our aim of making investing more accessible to the masses,' she added. The MoU reflects the joint commitment by Bursa Malaysia, Fullgoal HK and CGS International to strengthen collaboration to promote capital market connectivity between China and Malaysia, enrich cross-border product offerings and enhance the cross-border development capabilities of the asset management industry.
The Sun
26-05-2025
- Business
- The Sun
Bursa Malaysia collaborate with BoardRoom to push wider adoption of CSI Solution
PETALING JAYA: Bursa Malaysia Bhd in collaborating with BoardRoom Group, a provider of corporate and advisory services in the Asia-Pacific region, to encourage wider adoption of the Centralised Sustainability Intelligence (CSI) Solution among Malaysian public listed companies (PLC), with the goal of enhancing the quality of sustainability disclosures across the corporate sector. The CSI Solution was developed by Bursa Malaysia in support of Malaysia's transition to a low-carbon economy. It enables companies, listed and non-listed, streamline sustainability reporting. Following its designation in March as the exchange's official sustainability reporting channel, the CSI Solution's disclosure module now supports the International Sustainability Standards Board IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures under the National Sustainability Reporting Framework. Bursa Malaysia CEO Datuk Fad'l Mohamed said: 'Bursa Malaysia is committed to supporting Malaysian companies in their decarbonisation journey and lowering their climate impact. This commitment is reflected in our decision to make CSI reporting tools, aligned with IFRS S1 and S2, accessible at no charge to all public listed companies.' He added that their collaboration with BoardRoom will extend the CSI Solution's reach. 'Leveraging BoardRoom's established presence and sustainability advisory expertise in the corporate advisory space, we hope to support more companies in navigating evolving disclosure requirements and enhancing the quality of their sustainability reporting with greater confidence,' said Fad'l. BoardRoom Group CEO Angeline Aw said, 'We are proud to partner with Bursa Malaysia, to scale the CSI Solution across the corporate sector. This collaboration builds on our strong and long-standing relationship with the exchange, underpinned by our shared commitment to strengthening corporate governance and regulatory readiness. With our deep experience in serving public listed companies and expertise in Sustainability Reporting and Advisory, BoardRoom is well-positioned to support clients in adopting the CSI Solution and producing impactful sustainability reports.' Since its launch in June 2024, around 180 PLC have onboarded onto the CSI Platform. All companies, not just PLC but also mid-tier companies and small-medium enterprises are encouraged to adopt the CSI Solution to strengthen their sustainability journey. By leveraging its comprehensive suite of services, including an emissions calculator, a supplier management module, and a range of complementary value-added services delivered through a network of ecosystem partners, businesses can enhance their environmental performance and drive long-term value.
