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Bursa Malaysia Berhad (“Bursa Malaysia” or “the Exchange”) today expanded its incentives under the Green Lane Policy (“GLP”) as well as the pool of eligible listed companies (currently limited to the constituents of the FBMKLCI) to now include constituents of the FTSE Bursa Malaysia Top 100 Index. First launched on 29 August 2017, this expanded initiative now serves to enable a broader pool of companies with good standard of corporate governance conduct and disclosure practices to benefit from GLP privileges.
For the initial phase of the GLP, the Exchange has ceased pre-vetting of circulars issued by qualified listed companies (“Qualified Companies”) except those involving more complex proposals such as major disposals / privatisation, related party transactions and transactions involving mineral, oil and gas assets (“Complex Circulars”). As such, Qualified Companies can issue such circulars to its shareholders as soon as it is ready without having to seek clearance from the Exchange.
Now, under the expanded GLP privileges, in addition to the fast-track processing of Complex Circulars (which still require a review by the Exchange) submitted by Qualified Companies, other applications submitted to the Exchange will also be fast-tracked.
The privileges accorded under the GLP aims to facilitate a more efficient time-to-market for Qualified Companies’ corporate proposals, and also acts as a means of recognising and incentivising listed companies towards having good corporate governance and disclosure practices.
In meeting the intended objectives of the GLP, the Exchange will continue to review the list of Qualified Companies and ensure that these companies continue to observe good corporate governance conduct and compliance practices, and reserves the right to remove a company from having GLP privileges as it deems fit.
