Financial Institutions and Markets in Southeast Asia A Study of Brun

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The book should prove a valuable reference for researchers in development and financial economics as well as international business, and for advanced graduate or undergraduate seminars. For the businessman, the book provides background on the financial sectors and is a handy financial guidebook to the region.

By the same author

MERCHANT BANKING IN THE FAR EAST ASEAN REGIONAL FINANCIAL COOPERATION: Developments in Banking and Finance MERCHANT BANKING IN ASEAN: A Regional Examination of its Development and Operations DIVIDEND REINVESTMENT PLANS: Their Development and Operations in Australia and the United States FINANCE COMPANIES IN AUSTRALIA THE DIVERSIFICATION OF AUSTRALIA'S TRADING BANKS CREDIT UNIONS IN AUSTRALIA (co-author) FINANCIAL INSTITUTIONS AND MARKETS IN THE FAR EAST: A Study of China, Hong Kong, Japan, South Korea and Taiwan (editor) A MULTINATIONAL LOOK AT THE TRANSNATIONAL CORPORATION (editor) THE AUSTRALIAN CAPITAL MARKET: Some Suggestions for Improving its Operational and Allocative Efficiency (editor)

AUSTRALIA AND THE MULTINATIONAL (editor) CAPITAL MARKET EFFICIENCY: The Empirical Evidence (co-editor)

FINANCIAL INSTITUTIONS AND MARKETS IN SOUTHEAST ASIA A Study of Brunei, Indonesia, Malaysia, Philippines, Singapore and Thailand

Edited by

Michael T. Skully

Senior Lecturer in Finance University of New South Wales

M

MACMILLAN

© Michael T. Skully 1984 Softcover reprint of the hardcover 1st edition 1984 All rights reserved. No part of this publication may be reproduced or transmitted, in any form or by any means, without permission. First published 1984 by THE MACMILLAN PRESS LTD London and Basingstoke Companies and representatives throughout the world ISBN 978-1-349-04120-6

ISBN 978-1-349-04118-3 (eBook) DOl 10.1007/978-1-349-04118-3

Contents List of Figures List of Maps List of Tables Preface Notes on the Contributors 1 Financial Institutions and Markets in Brunei

Michael T. Skully Introduction Financial Institutions Financial Markets Analysis The Future

2

Financial Institutions and Markets in Indonesia

Ross McLeod Introduction Financial Institutions Financial Markets Analysis Trends and Predictions

3 Financial Institutions and Markets in Malaysia Zeti Akhtar Aziz Introduction Financial Institutions Financial Markets Analysis Trends and Predictions

vii viii ix XV

xvn 1

1 4 41 43 45 49

49 54 97 103 106 110

110 119 154 161 163

4 Financial Institutions and Markets in the Philippines 167 Alfredo E. Pascual 167 Introduction 174 Financial Institutions

Contents

VI

Financial Markets Analysis Trends and Predictions 5

6

Financial Institutions and Markets in Singapore Lee Sheng- Yi Introduction Financial Institutions The Offshore Banking System Financial Markets Problems and Prospects Appendices Financial Institutions and Markets in Thailand Michael T. Skully Introduction Financial Institutions Financial Markets Analysis The Future

Bibliography Index

209 219 221 226

226 232 261 271 278 282

296

296 300 359 370 374

379 403

List of Figures 1.1

Brunei Treasury Department by