Thailand-Malaysia-S'pore to quicken secondary listing process

 
 Under the Memorandum of Understanding on Expedited Review Framework for Secondary Listings, they will jointly formulate the framework and criteria for secondary listings, to ensure that the review period would not last over 35 working days. According to Business Times, the process normally takes 16 weeks.
The agreement follows the Asean Capital Markets Forum's Implementation Plan. Regulators of other countries can join the pact when they are ready.
 This will facilitate the secondary listings of companies already listed in the stock exchanges of the three countries.
 The signing involved the Monetary Authority of Singapore and Securities Commission Malaysia, as well as the stock exchanges of the three countries.
 To Vorapol Socatiyanurak, secretary general of the SEC, the framework would be a way to promote Thai companies' regional business expansion and facilitate their roles in the Asean Economic Community.
 'We hope that the Expedited Review Framework will encourage more listed companies to seek cross-listings in the region to broaden their investor base. With more cross-listings, investors in the region will have easier access to a broader choice of investments,' said Lee Chuan Teck, assistant managing director (capital markets group) of MAS, in his capacity as chairman of Asean securities exchange.

Tan Sri Zarinah Anwar, chairman of Malaysia Securities Commission, said that the framework would promote regional bourses and turn Asean into a world-class fund mobilisation centre.