Brunei stock exchange a work in progress Listing and trading rules are being drafted as part of preparations to open the new bourse

BANDAR SERI BEGAWAN – Preparations are under way to establish Brunei’s stock exchange,  including identifying companies that are ready to be listed, the second finance and economic minister told Legislative Council (LegCo) members.

YB Dato Seri Setia Dr Hj Mohd Amin Liew Abdullah said the establishment of the Brunei stock exchange would be included in the $89.38 million budget for projects under the 11^th National Development Plan, which also includes the development of Pulau Muara Besar and the socio-economic census.

“To ensure the country’s capital market is implemented in an orderly manner, a number of preparations involving relevant agencies are in progress to support its early development in this country,” he said during the budget readout at the 16^th LegCo session on Wednesday.

Preparations include improving existing legislation such as the Companies Act, Securities Market Order and Securities Market Regulation, as well as disseminating information on the capital market ecosystem to stakeholders.

The government is also drawing up listing and trading rules, he said, without disclosing the timeline for the launch of the exchange.

The minister last year announced a $414 million package for the formation of the stock exchange, which will be disbursed over the next few years to fund infrastructure, technology and socio-economic studies related to its implementation.

YB Dato Dr Hj Mohd Amin said the establishment of the exchange would act as a catalyst for economic growth and business development by making alternative financing available for businesses in the country.

“In terms of capital market, including the securities market and debt market, it plays an important role in encouraging economic activity by facilitating and diversifying access for companies to get alternative financing,” said the minister.

He added that an active securities market would open up more business opportunities with other bourses in the ASEAN region.

“In terms of capital market, including the securities market and debt market, it plays an important role in encouraging economic activity by facilitating and diversifying access for companies to get alternative financing,” said the minister.

The development of a securities market will not only facilitate regional integration but also expand national capital markets and create more foreign investment opportunities, YB Dato Dr Hj Mohd Amin added.