Malaysia to allow business trusts
It is expected that Malaysia will permit business trusts which will be listed on the local exchange. The purpose is to increase primary-market volume and attract domestic infrastructure companies in order to prevent them from being lured abroad. Berjaya Sports Toto has already made its plans directed abroad. It is about to raise an amount of nearly S$500m (US$401m) from the IPO in Singapore of Sports Toto Malaysia. The choice of destination of the issuer of the business trust has alerted local companies.