Five get famous in Malaysia

The Malaysian government awards licenses to five international brokers to set up domestic stock broking operations.

In what must be seen as a victory for old school stock brokers, the Malaysian government yesterday awarded CLSA, CSFB, JPMorgan, Macquarie Securities and UBS the five licenses for international financial firms to set up domestic stock broking businesses.

The news came in a speech from Prime Minister Abdullah Badawi and was later confirmed by the five firms involved and the Malaysian Securities Commission SC.

The 'famous' five...

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