KUALA LUMPUR: Bursa Malaysia Bhd has issued a consultation paper seeking public feedback on the proposed amendments to the Main and ACE Markets listing requirements.
In a statement yesterday, the exchange said the move aims to strengthen the governance of the listed issuers and enhance operational efficiency.
“Heeding the government’s call under the National Anti-Corruption Plan (2019-2023), the exchange proposes to introduce various anti-corruption measures for listed issuers under the listing requirements.
“The other proposed changes entail driving digitisation in corporate exercises undertaken by listed issuers for greater operational efficiency and efficacy,” it said.
Hence, the exchange said the key proposed amendments stipulate strengthening the governance of listed issuers to prevent corruption, misconduct and fraud by requiring a listed issuer’s board of directors to firstly, establish and maintain policies and procedures on anti-corruption and whistle-blowing.
“Secondly, to conduct annual review of such policies and procedures, and publish them on the listed issuer’s website, and thirdly, to include corruption risk in its annual risk assessment framework,” it said.
The exchange said another key proposed amendment is to promote operational efficiency and efficacy through digitising corporate exercises by requiring a listed issuer to facilitate actions undertaken by its securities holders electronically.
The actions involve subscription and payment for rights issue; conversion and payment for convertible securities; and election to participate in a dividend reinvestment scheme, said the exchange.
“The consultation paper is available at www.bursamalaysia.com. Interested parties are invited to submit their comments and feedback to Bursa Malaysia by Oct 25, 2019,” it said. – Bernama
