Citi says gets Malaysian stockbroking permit

KUALA LUMPUR Jan 12 (Reuters) - Citi (C.N) has obtained a permit to set up a stockbroking company in Malaysia, the U.S. financial group said on Tuesday.

"The news underlines Citi's continued investment in Asia and its desire to play an expanded role in the local Malaysian capital market," Citi said in a statement.

Prime Minister Najib Razak's government is eager to boost the country's sluggish stock market and encourage more foreign investment.

The Securities Commission, the capital market regulator, last month awarded U.S. investment bank Goldman Sachs (GS.N) licenses to set up fund management and advisory operations in the country. [ID:nKLR17037]

The Malaysian stock market rose 45 percent in 2009, lagging regional peers such as Indonesia, Singapore and Thailand, whose stock markets had risen by more than half last year.

(Reporting by Soo Ai Peng; editing by Liau Y-Sing)