Supervision of Issuers
Listing
Bursa Malaysia has in place a sound and robust regulatory framework in admitting, monitoring and supervising issuers on the Main Market, ACE Market and LEAP Market through the respective Listing Requirements (“Listing Requirements”).
To ensure a fair and orderly market as well as to build and maintain the integrity of our markets and investors’ confidence, the Listing team is entrusted with the primary role as the front-line regulator to admit, monitor and supervise listed issuers. The Listing teams’ core functions include the following:
- Review and process applications
- Review and process applications for admission to the Official List of the ACE Market and LEAP Market
- Review and process listing applications for secondary fund raisings
- Assess and process applications for the listing of Structured Warrants
- Review application for waivers, modifications and extension of time for compliance with the Bursa Malaysia Listing Requirements
- Review and process regularisation proposals by financially distressed (PN17 or GN3 Companies), those having insignificant level of operations (Para/Rule 8.03A Companies) and listed issuers which were classified as cash companies (Cash Companies)
- Disclosure and Continuing Listing Obligation
- Monitor and review announcements and circulars to promote compliance with the Listing Requirements including timely, clear and adequate disclosures
- Review media articles for material information and issue queries to listed issuers to facilitate proper and adequate dissemination of clear and sufficient information to stakeholders via Bursa LINK
- Monitor and require listed issuers to make immediate announcement on any information which may account for or contribute to Unusual Market Activities (“UMA”)
- Monitor listed issuers' compliance with all other continuing listing obligation stipulated in the Listing Requirements such as timely submission of periodic information including financial statements
- Assess and impose suspension of trading of securities arising from voluntary request by listed issuers and requotation thereon
- Impose suspension or trading halt and requotation thereon
- Engage with listed issuers and/or advisers and clarify on compliance issues pursuant to the Listing Requirements
- Monitor Sponsors for the ACE Market
- Monitor Advisers for the LEAP Market
- Listing Advisory
- Bursa LINK and Support
Bursa Malaysia places significant emphasis on timeliness, adequacy and accuracy of disclosures to enable investors to make informed investment decisions as disclosure is a cornerstone to maintaining the integrity and efficiency of our market.
To ensure a high standard of disclosure and compliance is practiced by listed issuers, we carry out the following key functions:
We review and process applications for admission to the register of Sponsors and maintain the register of Sponsors. We also monitor and engage with Sponsors on its conduct and conduct of sponsored corporations.
We review and process applications for admission to the register of Advisers and maintain the register of Advisers. We also monitor and engage with Advisers on its conduct and conduct of sponsored corporations.
We provide assistance to listed issuers, advisers and relevant industry participants on the interpretation and application of Listing Requirements (askListing@Bursa)
Bursa LINK facilitates the on-line dissemination of listed issuers announcements and documents such as circulars, Annual Report, Quarterly Reports and Prospectus. It also provides a platform for listed issuers to submit on-line applications such as listing and waiver applications.
The Listing team also provides on-going application support to BURSA LINK users as well as training, briefing and other development programs for existing and new LINK users.