Investment regulation - Malaysia


Holding restrictions

In general, the foreign ownership limits (FOL) on shareholding in Malaysian companies are as follows:

Domestic investment banks and domestic Islamic banks:


Local insurance companies and Takaful operators:


Other Malaysian companies (as listed in their Memoranda & Articles or governed by Ministry guidelines):


The FOL can exceptionally be exceeded, in particular for companies that mainly produce goods for export.

Foreign investors can continue to buy and hold shares exceeding the FOL. In practice, such shares are considered as “restricted shares” and rank pari passu with non-restricted shares, but do not bear any voting rights.

Note: The level of foreign ownership may be disclosed by the company/issuer from time to time. A formal source of FOL information does not exist.

Disclosure requirements

For details of the local domestic disclosure requirements, please refer to the Disclosure Requirements.