KUALA LUMPUR: Malaysia's Prime Minister Datuk Seri Najib Razak said on Monday the mandatory requirement for corporate bond credit ratings in the country will be removed from Jan. 1, 2017 as part of moves to liberalise the country's financial sector.
"This will broaden the corporate bond market, and enable investors to further diversify their portfolios," Najib said in a speech at an investment conference in Kuala Lumpur.
Najib also announced that foreign firms will be allowed, effective immediately, to fully own unit trust management companies in Malaysia and that international credit rating agencies with full foreign ownership would be allowed in the Malaysian market from January 2017- Reuters
