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The Securities Commission Malaysia (SC) today invited public feedback on the proposed requirements for the admission of companies involved in mineral, oil and gas exploration or extraction (MOG) activities to the Main Market of Bursa Malaysia Securities Berhad (Bursa Malaysia).
The SC has observed increased interest in the listing of MOG companies, both directly through initial public offerings and indirectly through acquisitions by listed companies. Given the technical nature of and high risks associated with MOG businesses, the SC recognises the benefits of having a holistic framework to regulate companies engaged in such businesses. The proposed holistic framework, encompassing admission requirements and post-listing obligations, aims to enhance investor protection.
The SC’s consultation paper sets out the proposed admission requirements, comprising eligibility and additional disclosure requirements. In drawing up these proposals, the SC undertook jurisdictional benchmarking and engagements with stakeholder focus groups.
Members of the public are encouraged to refer to the consultation paper which is available here on SC’s website for details of the proposals. Feedback on the proposed requirements may be submitted via email to feedbackmog@seccom.com.my by 13 November 2015.
Bursa Malaysia will be issuing a consultation paper separately on the additional post-listing obligations for MOG listed issuers.
