Mumbai: Reliance Capital Asset Management company has been given approval to commence operations in Malaysia, a top official from the Securities Commission, Malaysia said today.

"The permission to Reliance Capital Asset Management company for beginning operations in Malaysia was granted by the authorities two days ago," said Zarinah Anwar, Chairman Securities Commission, Malaysia, at the India-Malaysia Capital Market Forum held here.

The day-long forum held in the financial capital is being jointly organised by SEBI and Securities Commision of Malaysia.

Several Indian joint ventures in power, railways and construction sector are active in Malaysia and India is a key market for Malaysian construction industries, she said.

However, in financial and capital market there is no cross border participation in investment, which remains relatively low, Anwar said.

"Certainly this is not reflecting existing trade and direct investment relationship between India and Malaysia," she said adding "there surely must be untapped oppurtunities for both capital market players... Providing lot of scope for Indian participation in Malaysia and vice-versa."

"One of the most important market segments in Malaysia is the bond market which has been established for financing corporates. It also emerged as the largest current bond market in the South East Asian region," Anwar said.

Source : PTI