CONFIDENTIAL
4. WE HAVE CONSULTED CPA BUT THERE DOES NOT APPEAR TO BE ANYTHING OF VALUE THAT CPA DESIRES FROM THE MALAYSIANS. HOWEVER, WE ARE ANXIOUS THAT CPA SHOULD NOT INSULATE MAS FROM THE FULL EFFECTS OF ICAP. IF MAS IS TO RETAIN ALL THE PRESENT 5TH FREEDOM RIGHTS BEYOND HONG KONG, WE WOULD SUGGEST THAT STEPS BE TAKEN TO RETAIN FOR CPA ITS PRESENT RIGHTS TO PERTH BEYOND MALAYSIA AND TO ENSURE THAT IT CAN COMPETE EFFECTIVELY UNDER WHATEVER NEW ICAP REGIME
INSTITUTED.
MACLEHOSE
FILES
MAED
HK & GD
SEAD
MR CORTAZZI
MISS BROWN
MR MURRAY
}
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