PENANG: Bursa Malaysia Berhad hosted the 37th ASEAN Exchanges CEOs Meeting on July 12, 2024, convening CEOs from the region’s six major exchanges. The meeting focused on enhancing regional competitiveness, with particular emphasis on bolstering sustainability efforts and strengthening market connectivity across ASEAN.
CEOs and Presidents from Bursa Malaysia, Indonesia Stock Exchange (IDX), The Philippine Stock Exchange (PSE), Singapore Exchange (SGX Group), The Stock Exchange of Thailand (SET), and the Deputy CEO of Vietnam Exchange attended the meeting. Representatives from Cambodia Securities Exchange and Lao Securities Exchange also participated as observers. This year’s meeting built upon the initiatives discussed during the previous year’s gathering hosted by SET in Chiang Mai.
In a bid to enhance regional market connectivity, ASEAN Exchanges collectively agreed to pursue initiatives such as offering Depository Receipts (DRs) across their platforms. This move aims to provide domestic investors with increased access to investment opportunities in neighbouring countries, following the successful DR linkage established between SGX Group and SET.
Regarding sustainability, significant progress was noted in the past year, marked by intensified information sharing among ASEAN exchanges and the adoption of Common ESG metrics. The CEOs committed to several Proof-of-Concepts (POCs) over the next three years, including establishing an ASEAN Data Infrastructure, developing a standardised ASEAN ESG curriculum for listed issuers, promoting transition financing for corporate suppliers, and instituting ASEAN ESG Awards to recognise exemplary performance.
The ASEAN-Interconnected Sustainability Ecosystem (ASEAN-ISE) initiative, initially involving Bursa Malaysia, IDX, and SET, has expanded to include SGX Group and recently PSE. This expansion underscores ASEAN’s dedication to implementing Common ESG Metrics, which enhances transparency and promotes exemplary ESG practices across the region.
Datuk Muhamad Umar Swift, CEO of Bursa Malaysia, emphasised the significance of PSE’s inclusion in ASEAN-ISE, highlighting the collective commitment of ASEAN Exchange members towards sustainable development. Ramon S. Monzon, President and CEO of PSE, expressed enthusiasm about contributing to ESG initiatives in ASEAN markets through collaborative efforts with peer exchanges.
The ASEAN Exchanges website, recently updated, now serves as a comprehensive resource for global investors interested in exploring opportunities within ASEAN economies, offering insights into market developments and information.
For more details, visit www.aseanexchanges.org.
