Bursa Malaysia Securities Berhad (“Bursa Malaysia” or “the Exchange”) today issued a consultation paper seeking public feedback on the proposed amendments to the MAIN Market, ACE Market, and LEAP Market Listing Requirements (collectively “LR”) in relation to the corporate rescue mechanism framework and exempted related party transactions.
Following the Companies (Amendment) Act 2024, two other forms of corporate rescue mechanism, i.e., the judicial management (“JM”) and corporate voluntary arrangement (“CVA”), have been extended to listed issuers. Accordingly, the Exchange proposes to require all listed issuers to immediately announce to the market all material information pertaining to the JM application and CVA proposal, to keep investors apprised of any pertinent event affecting the listed issuer, and for greater transparency.
Separately, the Exchange proposes to exempt a transaction involving a joint venture (“JV”) partner to a major shareholder arising from a minor JV from being considered as a related party transaction. The proposed exemption is subject to prescribed conditions and appropriate safeguards to ensure investor protection is not compromised, whilst improving business efficacy.
These proposed enhancements form part of the Exchange’s ongoing commitment to ensure that the LR remain fit for purpose, in line with ongoing developments in the corporate and capital market landscape, through a balanced and appropriate regulatory framework.
Further details on the consultation paper and the proposed amendments to the LR are available at https://www.bursamalaysia.com/regulation/public_consultation.
The Exchange welcomes views and feedback from the public on the proposed amendments above. Interested parties are invited to submit their comments to Bursa Malaysia using the Table of Comments available in the link above by 10 July 2025.
