KUALA LUMPUR: Listed companies will be allowed more time to prepare their financial statements and put in place regularisation plans under temporary new relief measures announced by the Securities Commission Malaysia (SC) and Bursa Malaysia today.
This is in addition to measures already introduced in 2020.
In a joint statement today, the regulators said the additional measures are an extension of time to submit financial statements and relief to listed issuers with unsatisfactory financial conditions and inadequate levels of operations.
Under the extension of time to submit financial statements, an automatic one-month extension for the issuance of quarterly and annual reports for the Main and ACE Markets, as well as semi-annual and annual audited financial statements for the LEAP Market, which are due on Feb 28, March 31, or April 30, respectively.
“Notwithstanding the one-month extension, listed issuers are reminded to comply with the disclosure obligations under the Listing Requirements, including making immediate announcements of any material information to ensure that shareholders and investors have access to information in a timely manner,” said the regulators.
Among the relief for listed issuers with unsatisfactory financial conditions and inadequate levels of operations is a 12-month relief period for a listed issuer that has announced between Jan 1 and June 30 that it has insignificant business or operations.
“This relief allows such a listed issuer to reassess its condition at the end of the relief period before making the requisite announcements,” said the SC and Bursa.