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“The amendments have been made as part of the Exchange’s continuous efforts to ensure that investors are provided with information on the financial affairs of listed issuers in a timely manner so as to aid informed investment decisions,” said Selvarany Rasiah, Chief Legal Officer of Bursa Malaysia.
The amendments incorporate previous directives by Bursa Securities including that securities of listed issuers which fail to issue a quarterly report, annual report or annual audited accounts (“financial statements”) for a period exceeding three months from the respective due dates for issuance, or the expiry of any extension of time granted by Bursa Securities will be suspended (“Directives”). The Directives took effect in 2004.
The amendments also impose obligations on listed issuers to make additional announcements to the market in relation to delays in issuing financial statements including monthly status announcements. In addition, the amendments provide that Bursa Securities shall commence de-listing procedures against listed issuers which fail to issue the financial statements within six months from the respective due dates for issuance, or the expiry of any extension of time granted by Bursa Securities (“De-listing Policy”).
“The amendments supersede the Directives and will take effect immediately, the De-listing Policy however, will only come into effect from 1 January 2006,” Selvarany said.
The amendments are posted on Bursa’s website at http://www.bursamalaysia.com. For further clarification, please call Bursa at 20347000 and speak to Ms Yew Yee Tee at extension 7336 or Ms Anisah Suyuti Low at extension 7295.
