KUALA LUMPUR:  The Securities Commission (SC) has approved one Chinese company for listing on the Bursa Malaysia, making it possibly the country’s first foreign listing.

SC chairman Datuk Zarinah Anwar said on May 8 the regulator was also looking at a proposal by another Chinese company while it had also received several inquiries from other countries.

She the new fund-raising framework, which was to create efficient access to capital and investments, would enable Bursa to attract more foreign companies to list here.

The new fund-raising framework included streamlining of Bursa Malaysia's current Main and Second Boards into a single unified called “Main Market” and expansion of the Mesdaq market, which will be renamed “ACE Market”.

“This new regulatory framework marks a milestone in the development of the market for fund-raising in Malaysia, bringing our rules in line with those of the developed markets in the region,” she said at the launching of the new framework and the new Bursa board structure.

Zarinah said as part of the new framework, the regulator has lifted the minimum capital requirement of RM1 billion imposed on companies seeking dual listing.