Thursday, September 27, 2007

Malaysia needs a central depository for companay's financial statements

As the title, Malaysia really needs to have a central depository for online statements. I am not sure that the SC is doing anything "E" about the financial situation of a company but I think the listed companies should provide their financial statements online in order to attract the interests of foreign investors who are interested in their financial standings. However, after doing some Google search and checking out the Bursa Malaysia's website, I can hardly find a place that allows people to find an archive of Malaysian public listed companies' annual report. This is crucial for an investor who does not wish to speculate or to invest with his so called "sixth sense" who wished to do some thorough analysis on their financial statements. Maybe Malaysia should start something like the Form 10K that the SEC in America is doing right now whereby all public listed companies are required to fill up the Form 10K every year to provide a snapshot on their business to the American public and the world. I believe that in order for Malaysia's financial market to move up the next level, they should really consider implementing a system that requires the companies to submit their information to a central department where the public will be able to gain access to these information.

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