The revamped Listing Requirements, announced earlier on 22 January 2001, is a major effort by KLSE widely seen as an important move to further strengthen the capital market and securities industry in Malaysia.
KLSE Deputy President I Encik Md Nor Ahmad said the objective of the Practice Notes is to provide interpretation of several provisions of the revamped Listing Requirements and specify administrative procedures.
"In clarifying obligations and requirements for compliance with several key areas in the revamped Listing Requirements, the Practice Notes promote a greater and deeper understanding for compliance by industry participants," he said.
Amongst the key areas covered by the Practice Notes include:-
- Maintenance of financial condition that justifies continued trading and/or listing;
- Prescription of education programmes for directors; and
- Prescription of requirements relating to disclosure on the Malaysian Code on Corporate Governance and the state of internal control in listed companies.
"At the same time, the Practice Note also ensures greater transparency in terms of the progress made by listed companies which fall within the ambit of the Practice Note. All these requirements serve to preserve the quality of companies listed on the KLSE which will in turn enhance the credibility and attractiveness of KLSE as a premier place for investment."
"The interests of shareholders and investors will be better protected by the requirements for greater disclosure as well as the requirement for listed companies to regularise their financial condition expeditiously under the Practice Note."
"This Practice Note together with the other Practice Notes should result in greater transparency and enhanced investor protection."
