Supervision of Issuers
Overview
Bursa Malaysia is vigilant in its supervision and monitoring of compliance by listed issuers with the Bursa Malaysia Listing Requirements to ensure high standards of disclosure and transparency and corporate governance practices by listed issuers. We ensure that the standards set out for listed issuers are effective to maintain a fair and orderly market and investor protection.
We ensure that listed issuers comply with the admission requirements and we also monitor their adherence with the continuing listing obligations including taking pro-active steps to facilitate compliance with the Bursa Malaysia Listing Requirements.
We place significant emphasis on timeliness, adequacy and accuracy of disclosure to enable investors to make informed investment decisions. Disclosure is a cornerstone in maintaining the integrity of our market. Listed issuers' disclosure obligation is stipulated under Corporate Disclosure Policy in the Bursa Malaysia Listing Requirements which sets out the requirements for both financial and non-financial disclosures.
Supervision of issuers is carried out in the following manner:
Applications
- assess and process applications made by listed issuers for initial listing and additional listing of securities
- process application for waivers, modifications and extension of time for compliance with the Bursa Malaysia Listing Requirements
Disclosure and Continuing Listing Obligation
- monitor and review announcements and circulars to ensure that disclosures are timely, clear, adequate and comply with the Bursa Malaysia Listing Requirements
- review media articles and issue queries to listed issuers to ensure that all material information regarding the listed issuers in the public domain is clear and properly disseminated via Bursa Malaysia
- monitor trading in the securities of listed issuers for unusual market activities and require listed issuers to make immediate announcement on any information which may account for the unusual market activities
- monitor listed issuers' compliance with the continuing listing obligation stipulated in Bursa Malaysia Listing Requirements including timely submission of periodic information
Corporate Governance
- monitor adherence to corporate governance standards by performing compliance review of corporate governance disclosures in annual reports and carrying out on-site examination to check conformance of corporate governance practices as disclosed or announced by the listed issuers
Corporate Surveillance
- undertake corporate surveillance of listed issuers to detect non-compliance with the Bursa Malaysia Listing Requirements
We also provide guidance and feedback to listed issuers through formal briefings and informal engagements to help elevate the standards of disclosures and corporate governance practices by the listed issuers.
Where non-compliances with the Bursa Malaysia Listing Requirements are detected, investigation will be undertaken and subject to the findings, enforcement action will be taken against the errant party.
We strive to deliver a high level of service and maintain effective working relationship with listed issuers. In order to ensure that enquiries can be channeled promptly and to the right personnel, we have dedicated specific personnel for each listed issuer to assist in enquiries relating to the Bursa Malaysia Listing Requirements. This is essential to encourage and promote greater compliance with the Bursa Malaysia Listing Requirements.