Friday 29 Mar 2024
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KUALA LUMPUR (Dec 18): Bursa Malaysia Bhd amended Main and ACE Market Listing Requirements to encapsulate anti-corruption measures in support of the National Anti-Corruption Plan 2019-2023.

In a statement today, the exchange said these amendments include requiring listed issuer and its board of directors to ensure that the policies and procedures on anti-corruption and whistleblowing are established and maintained for the listed issuer and its subsidiaries.

Listed issuers and their board are required to periodically assess these policies and procedures’ effectiveness, and in any event at least once every three years, while also ensure that corruption risk is included in the annual risk assessment of the group.

Another amendment requires a listed issuer to publish anti-corruption policy as well as whistleblowing policy and procedures on its website.

Bursa Malaysia said these amendments, which will take effect on June 1 next year, will require listed issuers to establish and implement policies and procedures to prevent corrupt practices, thereby providing them with a measure of assurance and a defence against corporate liability for corruption under section 17A of the Malaysian Anti-Corruption Commission Act 2009.

The bourse’s chief executive officer Datuk Muhamad Umar Swift said given the serious threat that corruption poses to corporates and the economy, Bursa Malaysia is supporting the Government’s battle against corruption by amending the Listing Requirements to encapsulate anti-corruption measures which are in addition to the statutory provisions under the law.

“The amendments will not only promote better governance culture and ethical behaviour within the listed issuer group but will also provide greater accountability and transparency to investors,” he said.

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