Existing
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New
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ECM 6 : Credit Facilities to Non-Residents |
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Non-resident correspondent banks and non-resident stockbroking companies were permitted
to obtain credit facilities in aggregate up to RM5 million from banking institutions
to fund mismatch of receipts and payments through their External Accounts. |
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Domestic credit facilities to non-resident correspondent banks and non-resident stockbroking
companies are no longer allowed. |
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ECM 9 : Investments Abroad |
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Residents with no domestic borrowing were allowed to make payment to non-residents
for purposes of investing abroad. |
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Corporate residents with domestic borrowing were allowed to invest abroad up to the
equivalent of RM10 million per calendar on a corporate group basis. |
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Residents with no domestic borrowing are allowed to make payment to non-residents
for purposes of investing abroad, up to an amount of RM10,000 or its equivalent
in foreign currency per transaction. |
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All residents require prior approval to make payments to non-residents for
purposes of investing abroad, for an amount exceeding RM10,000 equivalent
in foreign currency. |
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ECM 10 : Foreign Currency Credit Facilities and Ringgit Credit Facilities from
Non-Residents |
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Residents were allowed to obtain ringgit credit facilities of below RM100,000 in
the aggregate from any non-resident individuals. |
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Residents are not allowed to obtain ringgit credit facilities from any non-resident
individuals. |
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ECM 12 : Securities |
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There was no restriction on the secondary trading of securities registered in Malaysia,
between residents and non-residents, and between non-residents and non-residents. |
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For transfer of securities registered outside Malaysia from non-resident to a resident,
the resident was subject to the rules on investments abroad. |
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Ringgit securities are required to be deposited with authorised depositaries. |
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Ringgit securities held by non-residents must be transacted through an authorised
depositary for good delivery. |
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All payments by non-residents for any security registered in Malaysia must be made
in foreign currency or in ringgit from an External Account. |
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All proceeds in ringgit received by a non-resident from the sale of any resident
security must be retained in an External Account (subject to the conditions on such
accounts). However, should the ringgit security be held for more than one year, proceeds
from the sale of such securities can be :
- Immediately converted to foreign currency; or
- Credited to the External Account.
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All payments to residents for any security registered outside Malaysia from non-residents,
must be made in foreign currency. |
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