ASEAN AND PLUS STANDARDS SCHEME WILL FACILITATE CROSS-BORDER CAPITAL

KUALA LUMPUR, Oct 10 (Bernama) -- Setting up of the Asean and Plus Standards Scheme will improve cross-border capital raising efficiency and provide cost savings to issuers making multi-jurisdiction offerings within the grouping, the Securities Commission said Thursday.

The scheme was announced Thursday by Asean Finance Ministers at their
Investors Seminar in Dubai, it said in a statement.

The watchdog has played a key role in leading the Asean Capital Markets
Forum, a high level grouping of Asean securities regulators, to develop
harmonised standards of disclosure and other initiatives that will promote and
achieve greater integration of the region's capital market.

Second Finance Minister Nor Mohamed Yakcop, who represented Malaysia, said
the initiative was a key step forward in achieving the Asean Economic Community
Blueprint of an integrated Asean capital market by 2015.

"The scheme will increase Asean's attractiveness as a combined capital
market for fund-raising and raise disclosure standards among members to an
international level, further enhancing the region's competitiveness globally,"
he said.

Under the scheme, issuers seeking to issue equity or debt securities in
more
than one Asean country will be required to prepare only one set of disclosure
documents, with additional limited wrap-arounds for multi-jurisdictions
offers.

The scheme comprises a set of common Asean standards and additional
requirements prescribed by individual members known as "Plus Standards".

The Asean standards are based on the standards on cross-border offerings
developed by the International Organisation of Securities Commissions.

The Plus standards contain additional standards required by some Asean
jurisdictions due to their particular market practises, laws and
regulations.