KLSE Briefs Industry Participants On Mesdaq Market

The Kuala Lumpur Stock Exchange (KLSE) organised a briefing for industry participants on the establishment of the Mesdaq Market at KLSE.

Deputy President, Strategy & Development of KLSE, Encik Abdul Hamid Sh. Mohamed said the briefing is part of the on-going process to update industry participants on the Mesdaq Market.

"In view of the establishment of the Mesdaq Market at KLSE on 18 March 2002, the industry briefing will also provide the opportunity for participants to clarify matters relating to the Mesdaq Market.

"In establishing the Mesdaq Market, KLSE is guided by key principles in line with the recommendations of the Capital Market Masterplan ," he said.

The guiding principles for the establishment of the Mesdaq Market include:

Preservation of a market for high growth and technology based companies
Increase accessibility to all KLSE member companies
Creation of a single trading platform for the cash market
Least cost, time and disruption to KLSE and Mesdaq members, and to market intermediaries
In line with the vision, strategy and recommendations in the Capital Market Masterplan.

The briefing also covered the integration process for the following:

Listing Requirements of KLSE for the Mesdaq Market
Rules of KLSE

Listing Requirements of KLSE for the Mesdaq Market

To facilitate the establishment of the Mesdaq Market at KLSE, KLSE issued the Listing Requirements of KLSE for the Mesdaq Market (MMLR). The MMLR is substantially based on the Mesdaq Listing Rules. This has been done to ensure that:

the objectives of Mesdaq as a market for high growth and technology based companies are preserved; and
minimal disruptions to the listed companies, advisers and sponsors with regards to their initial and continuing listing obligations.

Certain amendments have been made to the MMLR to ensure consistency with the KLSE Listing Requirements, reflect the operations of the Mesdaq Market on KLSE, and clarify certain current practices of Mesdaq. Provisions which are no longer applicable for the Mesdaq Market have been deleted or substituted.The MMLR consists of 15 chapters and 9 Guidance Notes.

Rules of KLSE

For the establishment of the Mesdaq Market at KLSE, the Rules of KLSE have been amended to make reference to the Mesdaq Market, for example definition of Mesdaq Market, dealings in securities and clearing and settlement for the Mesdaq Market and duties of compliance officer. The Rules of KLSE have also incorporated a provision to prescribe the board lot size for the Mesdaq Market i.e. 100 units as opposed to 1000 units generally for the Main and Second Boards.

Update in Contact Details for Mesdaq Market

Contact details for the Mesdaq Market on KLSE beginning Monday, 18 March 2002 are as follows:

Mesdaq Division
12th Floor, Exchange Square
Kuala Lumpur Stock Exchange
Bukit Kewangan, 50200 Kuala Lumpur

General Line: 03-2026 7099/03-2732 4999
Direct Line: 03-2077 7000
Fax: 03-2732 6163
Web-site: www.klse.com.my
The Mesdaq Market will commence trading on KLSE beginning 9:00 a.m. Monday, 18 March 2002.