08 September 2017
VOICE OF MSWG
BURSA MALAYSIA CONSULTATION PAPER NO. 3/2017: MORE OVERSIGHT, MORE TRANSPARENCY
Bursa Malaysia is seeking public feedback on several proposed amendments to its Listing Requirements (LR) for both Main and ACE Market-listed companies.
The intention is to further align these protocols with the new Malaysian Code on Corporate Governance (MCCG) that had been issued by the Securities Commission (SC) in April 2017.
At the time, the SC had amended the CG rulebook to include within the MCCG a slew of fresh measures such as the Comprehend, Apply and Report (CARE) approach, shifting the onus from “comply or explain” to “apply or explain an alternative”, and the adoption of a differentiated and proportionate approach for listed issuers with differing size and complexity.
There was also greater emphasis on focus and clarity on intended outcomes rather than box-ticking and the introduction of ‘Step Up’ practices to encourage companies to go further in achieving corporate excellence.