KUALA LUMPUR (March 17): Securities Commission Malaysia (SC) and Bursa Malaysia Bhd are allowing flexibility to listed issuers on the timing of annual general meetings (AGM) for listed Real Estate Investment Trusts (REITs) and the issuance of quarterly and annual reports of listed corporations.
The two capital market regulators said this is following the introduction of the movement control order by the government.
In a joint statement, they said listed corporations which may only hold their AGMs beyond the prescribed six-month period as stipulated under the Companies Act 2016, can apply to defer their AGMs with the Companies Commission Malaysia (SSM).
In addition, the SC 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.
SC and Bursa said 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.
The movement control order will take effect from tomorrow until March 31, as part of the government's measure to curb the spread of the Covid-19 outbreak.
The order entails comprehensive restriction on movements and public gatherings nationwide including on religious, sports, social and cultural activities.
It also includes the shutdown of houses of worship and business premises, except for supermarkets, public markets, convenience stores and other essential services.