KUALA LUMPUR: Goldman Sachs has received the Securities Commission's (SC) approval to set up fund management and corporate finance advisory operations in Malaysia.
 
The SC said on Tuesday, Dec 8 the application by Goldman Sachs was pursuant to the liberalisation measures announced by Prime Minister Datuk Seri Najib Razak in June this year as well as in the Budget 2010 proposals announced in October.

The liberalisation, part of Malaysia's strategic shift to the high growth agenda,will further enhance its position as an attractive base for foreign capital market participants. This, in turn, will provide investors and issuers in Malaysia with a wider choice of investment products and services.

SC Chairman Tan Sri Zarinah Anwar said Goldman Sachs' decision to establish a presence in Malaysia is "significant as it supports the SC's efforts to transform the Malaysian capital market to a major capital market centre with the presence of diversified leading international firms that will complement our strong domestic players".

She said the move also showed the group's confidence in the growth opportunities available in the Malaysian capital market.