We are deeply honoured with the opportunity given to Malaysia to host the First Meeting of Asian-Oceanian Standard-Setters Group (AOSSG) on 4^th & 5^th November 2009. Please allow us to express our warmest welcome to all our guests coming from afar "Selamat Datang ke Kuala Lumpur" ("Welcome to Kuala Lumpur").

At this First Meeting, there is a plan to form an AOSSG which is a grouping of accounting standard setters in the Asia and Oceania region.

The idea of setting up AOSSG is timely as in the context of increasingly globalised financial reporting standards, it is necessary for accounting standard-setters in the region to establish a mechanism and platform to discuss and share resolutions to emerging issues in the process of convergence and contribute to the development of a single set of high quality global financial reporting standards.

The presence of the standard-setters at this inaugural meeting will bring a significant meaning in standard-setting in the region as the formation of AOSSG will mark the beginning of a new era of cooperation between standard-setters in the region.

We hope accounting standard-setters in the Asia and Oceania region that have not sent in your reply to attend the First Meeting of AOSSG, please do so soonest possible. We would also like to thank the accounting standard-setters that have agreed to attend the First Meeting of AOSSG.

We look forward to welcoming you to the Meeting and to Malaysia!