****************************************************
The Secretary for Financial Services and the Treasury, Mr Frederick Ma, updated Malaysia's investment community on Hong Kong's latest developments and favourable investment environment at a luncheon in Kuala Lumpur today (January 9).
On his second official visit to Malaysia, Mr Ma highlighted to the potential investors Hong Kong's strengths and attractiveness as an international financial centre and a world-class asset management centre, particularly following the passage last year of a bill on abolition of estate duty, the introduction of the Capital Investment Entrant Scheme in October 2003 and the Government's legislative proposal to exempt offshore funds from profits tax.
Mr Ma noted that with the recent relaxation of controls on overseas investment in Malaysia, Hong Kong was in a good position to serve as the preferred asset management centre for Malaysian investment funds, in light of Hong Kong's fundamental strengths and its proximity and close economic relationship with Malaysia.
During Mr Ma's visit to Kuala Lumpur, he also met with, among others, Malaysia's Deputy Finance Minister, Dato' Dr Ng Yen Yen and Chairman of Bursa Malaysia (formerly known as Kuala Lumpur Stock Exchange), Tun Mohamed Dzaiddin.
Ends/Monday, January 9, 2006
Issued at HKT 19:25
NNNN