KL bourse ready for Y2K

KL bourse ready for Y2K

KUALA LUMPUR (Reuters): Malaysia's securities regulator said on Monday the nation's capital market is ready to face the Y2K rollover and a readiness test involving over 100 market institutions and intermediaries was successful.

The Securities Commission said in a statement a handful of market companies which were unlikely to complete their Y2K programs had been placed under business restrictions.

"The Securities Commission (SC) would like to announce that the capital market is ready to face the rollover to the Year 2000," the commission said in a statement.

"A test run was successfully carried out between the SC Y2K Command Center and the response centers of the agencies under the SC to ensure effective and smooth communication between SC and its constituents during the rollover period.

"The test was carried out for one full day and involved more than 100 market institutions and intermediaries," it said.