KUALA LUMPUR (March 24): The Securities Commission Malaysia (SC) will waive the annual licensing fees for 2020 on the core regulated activity of all Capital Markets Services Licence (CMSL) entities with pre-tax profit of RM5 million or less during financial year 2019.
The regulator said those that have made the payment prior to today's announcement will be offered a credit to offset next year’s licensing fees.
In a statement today, the SC said it is introducing more relief measures aimed to ease the cost burden of capital market participants. These additional measures will benefit 231 licensed entities, 30 registered audit firms and 9,663 licensed individuals in the country.
“The unprecedented scale of challenges we are facing today demands measured responses that offer relief in the short term and support for longer-term recovery,” said the commission's chairman Datuk Syed Zaid Albar.
“The SC is constantly monitoring the situation and weighing all available options. We would like to assure all market participants that the capital markets will continue to function to support the Malaysian economy,” he added.
Other new measures include:
Earlier, the government had, through the Economic Stimulus Package 2020, announced that both the SC and Bursa Malaysia have agreed to waive all listing related fees for 12 months for companies with a market capitalisation of less than RM500 million seeking listing on the Main Market, as well as those seeking to list on the LEAP and ACE markets.
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