To me that a lot has been done from this point of view. The incentives malaysia telegram data that exist within the framework of IIS-3, PDS and shar life insurance are already significant. In addition, according to the three largest NPFs. The long-term savings program has already shown a decent return – 15.8% per annum.
Moreover, if we manage to fine-tune it further
investors will receive even more incentives. In particular, not all issues have been resolv with mutual investment funds. We believe that this instrument can also be brought under this incentive.
The second part is issuers. Here we propose to extend the subsidization of interest rates on loans to subsidizing financing in the form of issuing. That is, to give those who make a public issue the opportunity to receive compensation from the budget in the same way as is currently done under preferential lending programs. Perhaps, more serious things can be consider, namely: tax breaks on profits for those companies that, as we said, significantly enter the capital market and, possibly, have a high level of free-float.
The third element is relat to corporate governance and information openness. We can create any financial incentives we want, but if investors, primarily institutional ones, the most prepar ones, do not have information about investment instruments, they will not invest in them. Which is what we see today, by and large.
Course, in addition to the information openness
itself, the company must demonstrate maximum respect and protection for minority shareholders. When minority shareholders’ shares are dilut, when they are not invit to meetings, when what advantages does branding provide? they try to avoid the obligation to buy back securities under various pretexts, and so on – all this causes significant damage to trust in the stock ao lists market. And here, I think, the task of the regulator and the government is to promote openness, high quality corporate governance and counteract unfair practices as much as possible.