Taipei, Jan. 17 (CNA) The Taipei Exchange (TPEx), has been encouraging Malaysia-based companies to list on Taiwan's over-the-counter (OTC) market, which the TPEx operates.
At a joint conference held by the TPEx and accounting firm KPMG in Kuala Lumpur on Tuesday, TPEx Chairman Philip Chen (陳永誠) addressed the representative of more than 50 companies, saying Malaysia is one of the major markets with the potential for stock listings and investments in Taiwan.
Chen said the TPEx has helped more than 1,000 companies, in particular small- and medium-sized enterprises, to raise funds from the capital market.
Through a stock listing on the OTC market, companies can improve their operations and thus attract investors, while laying out their plans for sustainable growth, Chen said.
Also addressing the participants, KPMG Taiwan Chairman Winston Yu (于紀隆) said that about 20 companies from Southeast Asia have already launched listings on Taiwan's capital market.
This has paved the way for them to go global, while the funds raised in Taiwan will help them to upgrade their operations, Yu said.
Taking advantage of the Taiwan government's New Southbound Policy, the capital market should seek to attract more foreign listings and build "Southeast Asian concept" stocks, he said.
The New Southbound Policy is aimed at forging closer economic ties with the 10 members states of the Association of Southeast Asian Nations (ASEAN), as well as with India, Pakistan, Bangladesh, Nepal, Sri Lanka, Bhutan, Australia and New Zealand, to reduce economic dependence on China.
The conference in Malaysia, the TPEx's fifth there since 2012, was the first stop in the TPEx's push this year to reach the Southeast Asian market and enhance business exchanges under the New Southbound Policy, according to Chen.
As of Jan. 10, the number of companies listed on Taiwan's OTC market stood at 746, including 34 foreign incorporated firms, according to the TPEx.