| Aspect |
Primary Listing Of Foreign Incorporated Companies |
Secondary Listing of Foreign Incorporated Companies |
| Core Business/Business Activity & Independence of Business |
An identifiable core business which has majority ownership and management control
Core business should not be holding of investment in other listed companies |
- |
| Financial Position & Liquidity |
Healthy financial position with positive cashflow from the operating activities
and sufficient level of working capital |
- |
| Business Model and Prospects |
Core business of the applicant must be viable and have healthy growth
prospects. |
- |
| Lock-up Period |
Promoters’ entire shareholdings for six (6) months from the date of admission |
- |
| Conflict of Interest |
Must resolve, eliminate or mitigate all situations of conflict of interest
The company is required to:-
assess all aspects of its business to determine whether there are conflict of
interest situations; and
declare the nature and extent of the conflicts of interest (if any) and submit
a proposal to resolve, eliminate or mitigate such conflicts |
- |
| Transaction with related parties |
Must be based on terms and conditions which are not unfavourable to the
company |
- |
| Corporate governance |
The company should have:-
Independent directors
Suitably qualified directors
Restrictions on directorship
Audit Committee
System of internal control |
- |
| Place of Incorporation |
Equivalent standards of laws and regulations, particularly:-
corporate governance;
shareholders and minority interest protection;
and
regulation of take-overs and mergers
or
The company making variations to its constituent documents to provide those
standards
|
Equivalent standards of laws and regulations, particularly:-
corporate governance; - shareholders and minority
interest protection; and
regulation of take-overs and mergers
or
The company making variations to its constituent documents to provide those
standards
|
| Approval of Regulatory Authorities of Foreign Jurisdiction |
Prior approval of all relevant regulatory authorities of the jurisdiction(s) in
which it is incorporated or carries out its core business operations before issuing its listing
prospectus |
Prior approval of all relevant regulatory authorities of the jurisdiction(s) in
which it is incorporated or carries out its core business operations before issuing its listing
prospectus |
| Registration |
Must have been registered with the Registrar of Companies under the Companies Act
1965 |
Must have been registered with the Registrar of Companies under the Companies Act
1965 |
| Accounting Standards |
Standards under Financial Reporting Act 1997 (e.g. International Accounting
Standards Board, Financial Accounting Standards Board, USA, Accounting Standards Board, UK and
Australian Accounting Standards Board, Australia) |
Standards under Financial Reporting Act 1997 (e.g. International Accounting
Standards Board, Financial Accounting Standards Board, USA, Accounting Standards Board, UK and
Australian Accounting Standards Board, Australia) |
| Auditing Standards |
Standards applied in Malaysia or International Standards in Auditing |
Standards applied in Malaysia or International Standards in Auditing |
| Valuation Of Assets |
Standards applied in Malaysia or International Valuation Standards |
Standards applied in Malaysia or International Valuation Standards |
| Currency Denomination |
Quotation in Ringgit Malaysia |
Quotation in Ringgit Malaysia |
| Resident Directors |
Companies which have predominantly Malaysian-based operations must have majority
of directors whose principal or only place of residence is within Malaysia
Companies which have predominantly foreign-based operations must have at least 1 director
whose principal or only place of residence is within Malaysia |
Companies which have predominantly Malaysian-based operations must have majority
of directors whose principal or only place of residence is within Malaysia
Companies which have predominantly foreign-based operations must have at least 1 director
whose principal or only place of residence is within Malaysia |
| Utilisation of IPO Proceeds |
Free to utilize the proceeds abroad |
Free to utilize the proceeds abroad |
| Additional Listing Criteria |
- |
Must comply with the following criteria:-
Already have a primary listing on a foreign stock exchange;
Fully comply with the listing rules of its home exchange;
Home exchange must be a member of World federation of Exchanges;
Market capitalisation of at least the equivalent of RM1 billion on its home
exchange; and
PAT of at least equivalent of RM60 million based on the audited accounts for
the most recent full FY |
