KUALA LUMPUR (Feb 6): CIMB Group Holdings Bhd group chief executive Tengku Datuk Seri Zafrul Aziz said the Malaysia-Singapore proposed stock market trading link will not only attract more new players to participate in the wealth-creation of some 1,600 listed companies across both markets, but also encourage financial product creation and diversification.

"CIMB is ready to facilitate seamless participation in listed companies across both markets for its clients via our existing trading seats in Malaysia and Singapore. Coupled with all other initiatives like waiver of stamp duty for small and mid-cap stocks, six-month waiver on trading and clearing fees for new investors and liberalisation of margin-financing rules, the stage is well-set for a more vibrant share-trading market, providing better opportunities for well-run listed companies of any size to thrive," Tengku Zafrul said in a statement today.

Tengku Zafrul was responding to Prime Minister Datuk Seri Najib Tun Razak's speech at the World Capital Markets Symposium 2018 here today.

Najib said the stock market trading link known as the "Malaysia-Singapore Connect" followed discussions between him and Singapore Prime Minister Lee Hsien Loong.

Najib said: "After discussions between Prime Minister Lee (Hsien Loong) of Singapore and myself, I am glad to say that we have agreed that both markets have reached a sufficient level, sophistication and degree of maturity for us to establish a market corridor connecting Malaysia and Singapore, with a trading link between our respective exchanges to spur further mutual benefits and harness the economic potential of our two nations."