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According to an announcement from Bursa Malaysia:

LOCAL PARTICIPANTS ENTRY REQUIREMENTS FOR DERIVATIVES TRADING EASED; EXAMINATION, ACADEMIC AND EXPERIENCE PRE-REQUISITES REMOVED

Individuals who aspire to be professional derivatives traders or Local Participants can now do so by attending a two-day familiarisation programme with Bursa Malaysia Derivatives.

A Local Participant is a professional derivatives trader who trades their own account, or is a self-employed trader. With the easing of entry requirement, candidates no longer need to take the licensing examination, or show the relevant academic qualification and industry experience. This is part of the Exchange’s initiatives to increase the number of Local Participants in the market.

Dato’ Tajuddin Atan, Chief Executive Officer of Bursa Malaysia and Chairman of Bursa Malaysia Derivatives said, “We are cognisant that in this day and age, those who want to trade have a lot of resources at hand to make informed decisions. As such, we should not legislate qualification for those who want to trade in derivatives. In substitution of the qualification requirement, we are introducing a familiarisation programme so Local Participants can equip themselves with the relevant knowledge and understand the risks associated with derivatives trading.

“This liberalisation measures signifies our commitment to grow the Local Participants base as they contribute greatly to market liquidity. Traders can now easily manage their own portfolio, while at the same time enjoy the many benefits available including fee rebate and tax abatement. With the advance of internet trading, they can trade anywhere, anytime.”

Local Participants can trade with their own funds and are not permitted to conduct trades on behalf of Clients. They will enjoy exchange and clearing fees rebate if they trade 1,000 contracts per month or more. Local Participants are registered with Bursa Malaysia Derivatives (BMD) and can trade in all BMD’s products.

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PAVILION Real Estate Investment Trust (Pavilion REIT), the largest retail REIT in Malaysia, is eyeing more local assets to spur growth.

Pavilion REIT Management Sdn Bhd chief executive officer Philip Ho said the trust is seeking opportunities to expand its assets in Penang, Johor and the Klang Valley.

Ho said Pavillion REIT will evaluate any financially viable investment opportunity that comes around.

“As a retail real estate investment trust, our duty is to acquire malls and build up the portfolio,” he told reporters after its listing ceremony here.

Ho said the company’s trustees had signed three rights of first refusal (ROFR) to acquire Farenheit88, the Pavilion Mall’s extension, and a mall in USJ Subang Jaya.

With an appraised value of RM3.54 billion, Pavilion REIT is currently made up of two assets – Pavilion Mall and Pavilion Tower.

The mall, which contributes 96.4 per cent to the appraised value, has 1.3 million sq ft of net lettable area.

It boasts of about 450 retail tenants, making it the largest premium retail fashion mall in Malaysia.

Pavilion REIT yesterday fetched a 13.3 per cent premium over its offer price on its debut on Bursa Malaysia.

It opened at RM1.03, 13 sen higher than its institutional price of 90 sen, with 15.7 million unit shares traded.

Ho said the listing provides the company with direct access to capital markets, thereby strengthening its financial capacity to seize new opportunities in the country.

“We are committed to enhance unitholders’ return and value, both through the organic growth of our existing portfolio as well as visible growth via acquisitions,” he added.

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Bursa Malaysia Securities Berhad (“Bursa Securities”) would like to announce that a Practice Note No. 17 company, ARK RESOURCES BERHAD (“ARK”) has regularised its financial condition and no longer triggers any of the criteria under Paragraph 2.1 of Practice Note 17 (“PN17″).

Bursa Securities would like to emphasise that Bursa Securities will continue to monitor the progress of PN17 companies in respect of their compliance with the Listing Requirements.

With the upliftment of ARK from its PN17 status, there are a total of 22 companies under Practice Note 17 which represent 2.33% of the total number of 946 companies listed on Bursa Securities.

List of companies under PN17:-

1. BANENG HOLDINGS BHD

2. HAISAN RESOURCES BERHAD

3. HO HUP CONSTRUCTION BERHAD

4. HOVID BERHAD

5. JERNEH ASIA BERHAD

6. LINEAR CORPORATION BERHAD

7. LUSTER INDUSTRIES BHD

8. MAA HOLDINGS BHD

9. MAXBIZ CORPORATION BERHAD

10. METECH GROUP BERHAD

11. MITHRIL BERHAD

12. NGIU KEE CORPORATION (M) BERHAD

13. NV MULTI CORPORATION BERHAD

14. RAMUNIA HOLDINGS BERHAD

15. SATANG HOLDINGS BERHAD

16. SELOGA HOLDINGS BERHAD

17. SUMATEC RESOURCES BERHAD

18. THE AYER MOLEK RUBBER COMPANY BERHAD

19. TRIPLC BHD

20. VASTALUX ENERGY BERHAD

21. VTI VINTAGE BERHAD

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