Business Process
Licensing Guidelines
These guidelines are for potential Listing Sponsors applying for licenses for participation on LFX.
- Application for licenses to be initiated via the web (www.lfx.com.my).
- Applicant is to access LFX's website, www.lfx.com.my.
- Applicant download "Company" or "Individual" form under the License Application panel.
- Applicant to complete the Application Form and submit it via email (email address is provided in form) to LFX.
- Applicant to remit USD1,000.00 (non-refundable) application fee.
- Preparation for Submission of Licensing Application
- Applicant is to prepare Licensing Documents in accordance with the LFX's Rules of the Exchange, which shall include the following details of the Applicant:
- Copy of constitution (for corporations) / Copy of passport and curriculum vitae (for individuals).
- Report detailing the background of applicant:
- Individual / Company's profile.
- Individual / Business history.
- Individual / Company's principal business activities.
- Capital and shareholders' structure.
- Future plans of the individual / company.
- Company's strengths.
- Proof of applicant's experience and expertise in the business of investment.
- Audited financial statements including the auditor's report detailing applicant's net assets and pro-forma profitability Applicant's business plan and strategy as a Listing Sponsor / Trading Agent containing:
- Budget proposed for applicant's business plan / planned projects.
- Target market and areas of expertise.
- Composition of the project team (and their qualification) with respect to the business plan.
- Proposed strategic alliances with external parties (if any).
- Qualification of management personnel.
- Applicant's annual report (if available).
- Relevant supporting documents as stated in LFX's Rules of the Exchange.
- Applicant is to prepare Licensing Documents in accordance with the LFX's Rules of the Exchange, which shall include the following details of the Applicant:
- Upon Approval of license by LFX Licensing Committee
- The applicant shall be notified of the Licensing Committee's decision through their
e-mail address. - Upon approval of the licensing application, the applicant is required to submit the following:
- License undertaking to comply with all requirements and obligations set out in the terms of license and the LFX Rules;
- Payment of initial fees (Remittance of Fees) of USD10,000.00; and
- Proof of Professional Indemnity Insurance taken for the value of USD5,000,000. The Professional Indemnity Insurance shall be maintained throughout the validity period of the license.
- The applicant shall be notified of the Licensing Committee's decision through their
- Issuance of license and User IDs
- Upon complete submission of the required documents, LFX shall issue the full license to the approved Listing Sponsor.
- The license is valid for a period of twelve (12) months from the date of the license and shall be renewed upon its expiry. License annual renewal fee is USD5,000.00.
- Rejected Applications
- Upon rejection by the Licensing Committee, the applicant may submit an appeal together with other supporting documents as advised by LFX.
- The applicant has within twenty-one (21) days from the date the application was rejected by the Licensing Committee to submit an appeal to LFX, whose decision shall be final.