Subscribe to our Telegram channel for the latest updates on news you need to know.
KUALA LUMPUR, Feb 17 ― The Securities Commission Malaysia (SC) and Bursa Malaysia Bhd today announced temporary relief measures for listed issuers in addition to those introduced in 2020.
In a joint statement today, the regulators said these additional measures would allow listed issuers more time to prepare their financial statements and put in place regularisation plans amid the Covid-19 pandemic.
The additional measures are extension of time to submit financial statements and relief to listed issuers with unsatisfactory financial conditions and inadequate levels of operations.
Under the extension of time to submit financial statements, an automatic one-month extension for the issuance of quarterly and annual reports for the Main and ACE Markets, as well as semi-annual and annual audited financial statements for the LEAP Market, which are due on February 28, March 31, or April 30, 2021 respectively.
“Notwithstanding the one-month extension, listed issuers are reminded to comply with the disclosure obligations under the Listing Requirements, including making immediate announcements of any material information to ensure that shareholders and investors have access to information in a timely manner,” said the regulators.
As for relief to listed issuers with unsatisfactory financial conditions and inadequate levels of operations, a 12-month relief period for a listed issuer that has announced between January 1, 2021 and June 30, 2021 that it has insignificant business or operations.
“This relief allows such listed issuer to reassess its condition at the end of the relief period before making the requisite announcements,” said the SC and Bursa Malaysia. ― Bernama