Malaysian brief: Secretary for Financial Services & the Treasury Frederick Ma speaks in Kuala Lumpur.

Hong Kong is in a good position to serve as the preferred asset management centre for Malaysian investment funds, Secretary for Financial Services & the Treasury Frederick Ma says, thanks to the recent relaxation of controls on overseas investment in the country.

Speaking at a luncheon in Kuala Lumpur today, Mr Ma updated Malaysia's investment community on Hong Kong's latest developments and favourable investment environment.

He highlighted Hong Kong's strengths and attractiveness as an international financial centre and a worldclass asset management centre, particularly following the passage of a bill on abolition of estate duty, the introduction of the Capital Investment Entrant Scheme and the Government's legislative proposal to exempt offshore funds from profits tax.