China, Malaysia sign MOU

China, Malaysia sign MOU

KUALA LUMPUR (AP): China and Malaysia have signed a memorandum of understanding for cooperation between the securities commissions of both nations, an official news report said over the weekend.

Under the agreement signed Friday the two commissions will among other things exchange information and also assist each other on mutual investigations.

It was signed in anticipation of cross border investment, Malaysia's Securities Commission Chairman Mohd Munir Majidhe said, according to national news agency Bernama.

"We as regulators must work together to ensure there are sufficient safeguards for these investments," he said.

Malaysia's securities commission has so far signed similar agreements with Indonesia, Hong Kong and Thailand. China has signed such agreements with Hong Kong, the United States, Britain, Singapore and Australia.