MIA PROPOSES RM38 BLN STABILISATION FUND FOR BURSA MALAYSIA.

(From Bernama The Malaysian National News Agency)

KUALA LUMPUR, March 10 (Bernama) -- The Malaysian Investors' Association (MIA) has proposed the setting up of a bigger stabilisation fund amounting US$10 billion (RM38 billion) to boost the stock market.

The fund is for Bursa Malaysia to intervene and support the stock market when it is hit by non-economic factors, said MIA president Datuk Dr P.H.S. Lim.

The proposal, he added, will be submitted to the government next week.

Speaking to Bernama in a phone interview, Lim said such a fund should be used to bail out distressed companies and being profit-oriented, it must be handled …