Following the introduction of the Movement Control Order (“MCO”) that will take effect 18 to 31 March 2020 (“Restricted Period”), the Securities Commission Malaysia (“SC”) and Bursa Malaysia Berhad (“Bursa”) are allowing greater flexibility on the timing of annual general meetings (“AGMs”) for listed Real Estate Investment Trusts (“REITs”) and issuance of quarterly and annual reports of listed corporations.
The capital market, as a critical component of Malaysia’s financial sector, will operate as usual during the restricted period, with all intermediaries expected to remain open and fully operational. However, to facilitate the nationwide restriction on movement to curb the spread of Covid-19, listed corporations which may only hold their AGMs beyond the prescribed 6-month period as stipulated under the Companies Act 2016 can apply to defer their AGMs with the Companies Commission Malaysia (“SSM”). More information on the deferment can be found at the SSM website.
In addition, the SC today has granted a two-month extension for REITs managers of listed REITs with a financial year-end of 31 December 2019 to hold AGMs by 30 June 2020.
Listed issuers are reminded to take all necessary precautions to ensure the well-being of the public while complying with their regulatory requirements.
For more details, please visit Bursa Malaysia’s website at:
https://www.bursamalaysia.com/regulation/listing_requirements/main_market/direct ives_clarifications
and
https://www.bursamalaysia.com/regulation/listing_requirements/ace_market/directiv es_clarifications
