The additional investor protection measures are as follows:
Trading Restriction
With effect from 1 March 2002, PN4 companies that fail to comply with the original time frames specified in PN 4 to regularise their financial condition will have their listed securities subjected to trading restriction ("specified PN4 companies").
This trading restriction is in the form of full payment before purchase and will continue to be imposed on these specified PN4 companies until they no longer trigger the criteria prescribed in paragraph 2.0 of PN4 i.e trading restriction will be imposed on these specified PN4 Companies until the implementation of their regularisation plans.
Enclosed as Appendix 1 is a list of PN4 companies that will be subjected to trading restriction with effect from 1 March 2002.
Given the trading restriction, when investors wish to purchase the listed securities of any of these specified PN4 companies, the buying brokers will have to ensure that they are in receipt of cash, or as the case may be, upon clearance of or good value being given to demand drafts, bankers cheques and cheques prior to executing the purchase contract for their buying client.
Trading restriction in the form of full payment before purchase shall apply to all contracts of the listed securities of these specified PN4 companies which are executed through the Automated Trading System ("ATS") and Direct Business transactions entered into from 9.00 am, 1 March 2002.
In order to give effect to the imposition of trading restriction on PN4 companies, amendments have been effected to paragraph 8.14 of the Listing Requirements to empower the Exchange to impose the aforesaid condition on PN4 companies and the Rules of the Kuala Lumpur Stock Exchange to require compliance by brokers of the same. The amended Listing Requirements are available on the KLSE website at www.klse.com.my from 1 March 2002.
Separate Sector Classification
With effect from 4 March 2002, PN4 companies will be placed under a new sector called "PN4 Condition". All PN4 companies will be taken out from their original sectors, and placed in this new sector.
The separate sector classification for PN4 companies is to allow easy identification by the industry and public on both the KLSE Real Time Price Information ("KLSE RTPI") and the relevant publications of the KLSE. This separate classification is in addition to the current flagging of the PN4 Companies on KLSE RTPI and the KLSE Listing Information Network ("KLSE LINK").
In this regard, KLSE seeks the co-operation of the media to publish the separate classification of PN4 companies in the interest of keeping investors and shareholders updated and well-informed in making their investment decisions.
KLSE would like to emphasise that notwithstanding the additional investor protection measures, KLSE will continue to monitor the progress of the PN4 Companies in respect of its compliance with the Listing Requirements.
Appendix I
PRACTICE NOTE 4/2001
IMPOSITION OF TRADING RESTRICTION ON NON-SUSPENDED COUNTERS
EFFECTIVE 1 MARCH 2002
|
1
|
Amsteel Corporation Berhad |
22
|
Nauticalink Berhad |
|
2
|
Aokam Perdana Berhad |
23
|
Olympia Industries Berhad |
|
3
|
Artwright Holdings Berhad |
24
|
Pan Malaysia Holdings Berhad |
|
4
|
Berjuntai Tin Dredging Berhad |
25
|
Pancaran Ikrab Berhad |
|
5
|
Chase Perdana Berhad |
26
|
Parit Perak Holdings Berhad |
|
6
|
Construction and Supplies House Berhad |
27
|
Penas Corporation Berhad |
|
7
|
CSM Holdings Berhad |
28
|
Sateras Resources (M) Berhad |
|
8
|
Cygal Berhad |
29
|
SCK Group Berhad |
|
9
|
Dataprep Holdings Berhad |
30
|
Seloga Holdings Berhad |
|
10
|
Denko Industrial Corporation Berhad |
31
|
Sistem Television Malaysia Berhad |
|
11
|
Dewina Berhad |
32
|
Southern Plastic Holdings Berhad |
|
12
|
Emico Holdings Berhad |
33
|
Sriwani Holdings Berhad |
|
13
|
Geahin Berhad |
34
|
Tajo Berhad |
|
14
|
Hai Ming Holdings Berhad |
35
|
The North Borneo Corporation Berhad |
|
15
|
Hotline Furniture Berhad |
36
|
Transwater Corporation Berhad |
|
16
|
Idris Hydraulic (M) Berhad |
37
|
UCP Resources Berhad |
|
17
|
Jasatera Berhad |
38
|
UH Dove Holdings Berhad |
|
18
|
Lion Corporation Berhad |
39
|
United Chemical Industries Berhad |
|
19
|
Measurex Corporation Berhad |
40
|
Wembley Industries Holdings Berhad |
|
20
|
MOL.com Berhad |
41
|
Zaitun Berhad |
|
21
|
Mycom Berhad |
