WELCOME TO THE CMDF
The Capital Market Development Fund (CMDF) is a statutory fund, established 5 January 2004, pursuant to the Securities Industry Act 1983.
The purpose of the CMDF is to facilitate and enable, through funding, the development of an efficient, innovative and internationally competitive Malaysian capital market.
For more information, kindly contact:
The CMDF Secretariat
Securities Commission Building
3 Persiaran Bukit Kiara
Bukit Kiara
50490 Kuala Lumpur
Tel. +603 6204 8959
Fax. +603 6204 8960
Email. cmdf@cmdf.org.my
Homepage. www.cmdf.org.my
BACKGROUND TO THE CMDF
The establishment of the Capital Market Development Fund (CMDF) was approved by the Minister of Finance on 21 November 2002, as part of the policy proposal for the demutualisation of the (then) Kuala Lumpur Stock Exchange.
In recognition of their contribution towards the development of the stock exchange, the shares of the Exchange were allocated as follows:
-
40% was allocated to the broking industry, in recognition of their direct contribution and business risks undertaken to develop the exchange, of which:
- 30% was allocated to the stockbroking companies and
- 10% to the remisiers;
-
30% was allocated to MOF Inc, in recognition of the role of the government in their effort to develop and promote the Malaysian capital market; and
-
30% was allocated to the setting up of the CMDF, in recognition of the direct and indirect contributions of the non-broker community and other stakeholders to the growth and development of the exchange.
ESTABLISHMENT OF THE CMDF
The CMDF was legally established as an independent statutory fund on 5 January 2004, pursuant to Section 83C of Securities Industry Act 1983. Part VIIIA of the SIA sets out the scope and broad terms of reference for the CMDF.
Although the CMDF is established under the Securities Industry Act, the CMDF functions separately from the Securities Commission (SC). The Fund is administered by a Board, whose members are appointed by the Minister of Finance.
The day-to-day administration and management of CMDF matters is performed by the CMDF Secretariat.
MEMBERS OF THE BOARD
The CMDF Board comprises of seven members, appointed by the Minister of Finance.
Given the developmental oversight of the capital market, the SC Chairman is holds the position as the Chairman of the CMDF. The Deputy Chief Executive of the SC also sits on the CMDF Board, as does as a senior representative from Bursa Malaysia.
The other CMDF Board members comprise of senior captains of industry, possessed of the knowledge and experience in finance, business, law or any other relevant discipline, which will enable the CMDF Board to have a wide and robust outlook necessary for the effective development of the capital market.
Currently, the CMDF Board members are:
- Dato’ Zarinah Anwar (Chairman)
- Tan Sri Dato’ Sri Dr Chua Hock Chin
- Tan Sri Dato’ Dr Syed Jalaluddin Syed Salim
- Tan Sri Dato’ Megat Zaharuddin Megat Mohd Nor
- Dato' Yusli Mohamed Yusoff
- Encik George Ratilal
OBJECTIVES OF THE CMDF
In order to address the developmental needs of the Malaysian capital market, the objectives of the CMDF are statutorily defined as:
-
To promote and develop the Malaysian capital market to be efficient, innovative and internationally competitive;
-
To develop and upgrade skills and expertise required by the Malaysian capital market;
-
To develop and support high quality research and development programs and projects relating to the Malaysian capital market; and
-
To develop self-regulation of professional associations and market bodies.
Disclaimer | ©2004, Capital Market Development Fund