Bursa Malaysia extends relaxation of rules to help listed companies amid prolonged lockdown

Bursa Malaysia extends relaxation of rules to help listed companies amid extended lockdown

Bursa Malaysia extends relaxation of rules to help listed companies amid extended lockdown

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KUALA LUMPUR (June 16): Bursa Malaysia Bhd today announced two additional relief measures to help listed issuers cope with the extended lockdown amid the Covid-19 pandemic, which continues unabated.

The first is an automatic one-month extension for the issuance of quarterly and annual reports for listed issuers on the Main and ACE Markets, as well as semi-annual and annual audited financial statements for those in the LEAP Market, which are due on July 31 and Aug 31, 2021, respectively.

"Notwithstanding the one-month extension, listed issuers are reminded to promptly announce any material information to ensure informed investment decisions by shareholders and investors at all times," Bursa said in a statement.

The second additional measure is the granting of an 18-month relief period for a listed issuer facing unsatisfactory financial conditions and inadequate level of operations that would normally trigger the suspended Practice Note 17 (PN17) or Guidance Note 3 (GN3) criteria, between July 1 and Dec 31, 2021.

"Such listed issuer will not be classified as a PN17/GN3 listed issuer during this period," it said.

Separately, a 12-month relief period is also granted for a listed issuer who, within the same July 1 and Dec 31 period, announces that it has an insignificant business or operations.

"Both the relief measures above will allow an affected listed issuer to reassess its financial condition or level of operations at the end of the relief period before making the requisite announcements to the exchange," Bursa said.

These measures are in addition to those introduced in February and May this year, after considering the lingering impact of various movement control orders or and the recent nationwide lockdown, said Bursa.

Shares of Bursa Malaysia today closed unchanged at RM8.06 apiece with a market capitalisation of RM6.52 billion.

Tan Choe Choe