Bursa Malaysia Amends Listing Requirements For Main And Ace Markets

November 30, 2012 18:09 PM

Bursa Malaysia Amends Listing Requirements For Main And Ace Markets

KUALA LUMPUR, Nov 30 (Bernama) — Bursa Malaysia has amended the Main Market and ACE Market Listing Requirements (LR) to strengthen and enhance corporate governance (CG) practices of listed issuers.

In a statement Friday, Bursa Malaysia said the amendments are in line with the recommendations made under the CG Blueprint 2011 and the Malaysian Code on Corporate Governance 2012 (MCCG 2012) issued by the Securities Commission (SC).

Its Chief Executive Officer, Datuk Tajuddin Atan, said the CG amendments will lead to the promotion of a stronger corporate governance culture amongst the listed issuers by strengthening their board structure and composition as well as enhancing transparency in their corporate governance practices.

“We are committed to further enhancing the corporate governance culture thereby benefiting the listed companies, shareholders, stakeholders and capital market as a whole,” he said.

The salient CG amendments include aligning disclosure of corporate governance statements with the MCCG 2012 in annual reports; mandating poll voting for related party transactions which require specific shareholder approval; and limiting the number of directorships in listed issuers from 10 to five.

— BERNAMA

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