Singaporeans held the highest number of shares among foreigners in Malaysian listed companies as of last year, the Dewan Rakyat was told today.

According to Hilmi Yahya, the Finance Ministry parliamentary secretary, in the question-and-answer session today, Singaporeans owned 1.8 percent shares on the Bursa Malaysia last year, as opposed to Malaysians-owned shares at 84.8 percent.

This was followed by shareholders from British Virgin Island and United Kingdom (0.7 percent each), Hong Kong (0.4 percent), Taiwan (0.3 percent), Netherlands and Japan (0.1 percent each) and others (0.6 percent).

Hilmi also pointed out that foreign nominees collectively owned 10.5 percent of shares on the local stock exchange last year.

"The investment through foreign nominees, of which its real investors could not be identified, exceeded the (total) percentage of foreign investors," Hilmi said in a reply to Abdul Halim Abdul Rahman (PAS-Pengkalan Chepa).

Ownership rules

The parliamentary secretary added that the foreign nominees are companies established by share brokers, banks or other institutions that meant to hold shares for a third party.

On measures taken to control the foreign ownership, Hilmi said the shares can be traded freely on the Bursa Malaysia without restriction.

"However, some listed companies impose certain rules to ensure the share ownership are held by Malaysians, for instance in the banking and telecommunication sectors," he noted.

Hilmi added that the foreign investment committee also has drawn up guideline pertaining to foreign share ownership.