The country’s stock exchange readiness is not merely based on its system but also on other supporting factors, said Minister at the Prime Minister’s Office and Second Minister of Finance and Economy.
Speaking at the 19th Legislative Council (LegCo) Session, Yang Berhormat Dato Seri Setia Dr Hj Mohd Amin Liew Abdullah said that for the success of the stock exchange, the readiness of banks and companies, among others, is also vital.
“Alhamdulillah, the system is almost ready, but it also needs several supporting factors especially the bank, for example, to be primary and secondary dealers as well as the companies that we want to list, their records and more,” he said.
The minister added that experienced company directors and responsible corporate secretaries who can process issues on ensuring the company’s transparency and other factors play an essential role.
“We can do these things but we must also understand the investment mentality in the country for future investments. This is indeed one of the ministry’s efforts when the stock exchange is almost ready, we will do a public roadshow for people to comprehend the risks and rewards of investment,” said the minister.
YB Dato Dr Hj Mohd Amin Liew underlined that people need to understand that investments have risks and not all guaranteed profits.
LegCo member YB Hj Salleh Bostaman Hj Zainal presents a question at the 19th LegCo Session. Image: Iqbal Dato Selamat
He added: “When an investor structures an investment portfolio, will all go to the stock or some as deposits? This depends on the individual. Before launching the stock exchange, education will be made to the public.”
The minister noted that some people are already experts in investment but not everyone.
“For them to not just rush buying what’s listed on the stock exchange, they need to do some informed decision first,” said the minister.
YB Dato Dr Hj Mohd Amin Liew response was to the question posed by LegCo member YB Hj Salleh Bostaman Hj Zainal Abidin suggesting that awareness programmes for the public are needed before the launch of the stock exchange.
“This is so that people can gain knowledge on stock markets, investment risks and financial awareness for prospective investors to understand and not follow crowd pressure,” he said.
THE BRUNEIAN | BANDAR SERI BEGAWAN
