Anil Ambani-promoted Reliance Capital Asset Management Company (AMC) has been given approval to commence operations in Malaysia, a top official of the Securities Commission, Malaysia, said today.
"The permission to Reliance Capital Asset Management Company for beginning operations in Malaysia was granted by the authorities two days ago," Securities Commission of Malaysia Chairperson Zarinah Anwar said at the India-Malaysia Capital Market Forum held here.
The day-long forum held in Mumbai is being jointly organised by the SEBI and Securities Commission of Malaysia.
Several Indian joint ventures in power, railways and construction sector are active in Malaysia, and India is a key market for Malaysian construction industries, she said.
However, in financial and capital market, there is no cross-border participation in investment, Anwar said.
"Certainly this is not reflecting existing trade and direct investment relationship between India and Malaysia," Anwar said, adding "there surely must be untapped opportunities for both capital market players.... Providing lot of scope for Indian participation in Malaysia and vice-versa".
"One of the most important market segments in Malaysia is the bond market which has been established for financing corporates. It also emerged as the largest current bond market in the South East Asian region," Anwar said.