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Labuan
International Financial Exchange (LFX) has been
established and will continue to be developed to
be an efficient, cost effective exchange for the
benefit of all.Chairman of LFX Dato’ Mohd Azlan
Hashim said the opportunities offered by LFX to
all global investors and companies are unlimited.Mohd
Azlan, who is also Executive Chairman of the Kuala
Lumpur Stock Exchange was speaking in his keynote
address after LFX was launched by Minister of Finance
YB Tun Daim Zainuddin.Mohd Azlan said, amongst the
group of investors that could take benefit from
LFX, include:
- Malaysian
companies with international operations, LFX offers
a practical and convenient means of funding their
international operations through the listing of
innovative products. A listing on the LFX also
contributes to enhancing the liquidity of their
investments for otherwise non-liquid investments.
- For
countries in the Asia Pacific region, with either
limited resources to set up an exchange or limited
number of commercial enterprises to justify having
an exchange, LFX offers these countries an efficient,
cost effective access to the capital market. These
countries should consider LFX as their own facility
and utilise LFX their advantage.
- These
opportunities are not only confined to countries
in the Asia Pacific region and is open to all
developing countries such as those in Africa,
and other parts of Asia that can effectively use
LFX.
- For
international investors and companies, LFX offers
an exchange facility that permits the trading
of multi currency instruments, in an unrestricted
fashion - unencumbered by any exchange or selective
capital controls.
- For
issuers and advisors, products will be allowed
to be largely determined by issuers and their
advisors. LFX will always be receptive to new
ideas and instruments that the market requires.
- For
the special requirements of Syariah based investors,
LFX can cater for a wide range of products and
instruments based on Syariah principles. This
will enable the realisation of greater benefits
from the launch of the International Islamic Financial
Market.
Mohd
Azlan said LFX will always be receptive to new ideas
and instruments that the market requires. through
the listing and trading of various securities and
financial instruments. "LFX will act as a vehicle
to attract more funds and financial services providers
into Labuan IOFC."In addition, being the only offshore
exchange within the region, LFX would provide the
impetus for Labuan to gain wider international recognition
as an international offshore centre.‘Thus, the strong
support of Labuan-based entities is crucial to the
success of LFX," he saidMohd Azlan added LFX is designed
to be innovative, a trailblazer and therefore, its
success should not be immediately expected."Markets,
especially that which adopt new technologies and are
based on the latest models, take time to be fully
appreciated, to gain acceptance and to reach maturity,"
he said. Comments, suggestions and feedback on LFX
can be received at www. lfx.com.my. The LFX
office in Labuan is on the 7th floor of the Labuan
Financial Park, whilst the LFX office in Kuala Lumpur
is on the 10th Floor, Exchange Square, Kuala Lumpur
Stock Exchange.
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