The extension is to enable the completion of the comprehensive solution to the Central Limit Order Book International (CLOB) issue. The comprehensive solution agreed by Kuala Lumpur Stock Exchange (KLSE) and Singapore Exchange Limited (SGX) comprises:
Scheme A - Staggered release proposal by Effective Capital Sdn Bhd (ECSB) over a period of 56 weeks, to commence July 2000. Scheme B - Staggered release proposal based on an agreement between CDP and the Securities Clearing Automated Network Services Sdn Bhd (SCANS) over a period of 9 months, to commence January 2003.
Recently, KLSE has successfully completed placing the securities into CLOB investors' accounts who have accepted Scheme A in conformity with ECSB's staggered release proposal. The securities under this scheme have been released for trading beginning Monday, 3 July 2000. The release of securities will continue over 56 weeks to ensure an orderly release of the securities.
