Handbook issued on framework to ease cross-border fund-raising within Asean

Under the framework, Asean issuers planning a multi-jurisdictional offering of equity or plain debt securities can expect a shorter time to market, and faster access to capital across the region.
This framework requires both home and host authorities to complete the prospectus review process at the same time, within three to four months from the date of submission. The handbook provides detailed guidance on the operational aspects of the framework, including criteria for issuers.
The framework is an initiative under the Asean Capital Markets Forum (ACMF) Implementation Plan. It has been endorsed by the Asean Finance Ministers to enhance Asean’s attractiveness as a fund-raising centre.
The ACMF was set up in 2004 to promote freer flow of capital and greater connectivity of Asean capital markets.
Other key initiatives under the ACMF include the Asean Trading Link among regional exchanges; the Framework for Expedited Entry of Secondary Listings to allow for faster time to market for corporates seeking secondary listings; and the Asean Disclosure Standards to facilitate multi-jurisdiction offerings of equity and plain debt.
The ACMF has also worked to profile Asean as an asset class through the Asean Corporate Governance Scorecard, which has elevated the visibility of well-governed Asean limited public companies to the international investing community.
At the 13th Asean Summit in Singapore in November 2007, regional leaders jointly adopted the Asean Economic Community Blueprint with the goal of establishing Asean as a single market and production base, with free flow of goods, services, investments and skilled labour, and freer flow of capital.
The AEC Blueprint also sets out a general framework to strengthen Asean capital-market development and integration.