KUALA LUMPUR: The Securities Commission (SC) and Bursa Malaysia Bhd have today announced temporary relief measures for listed issuers in addition to those introduced in 2020.
In a statement today, they said the additional measures would allow listed issuers more time to prepare their financial statements and put in place regularisation plans amid the Covid-19 pandemic.
The measures are an automatic one-month extension for the issuance of quarterly and annual reports for the Main and Ace Markets as well as semi-annual and annual audited financial statements for the LEAP Market, which are due on February 28, 2021, March 31, 2021 or April 30, 2021 respectively.
Notwithstanding the one-month extension, listed issuers are reminded to comply with the disclosure obligations under the listing requirements, including making immediate announcements of any material information to ensure that shareholders and investors have access to information in a timely manner.
The SC and Bursa also announced a 12-month relief period for a listed issuer that announced between January 1, 2021 and June 30, 2021, that it had insignificant business or operations.
"This relief allows such listed issuer to reassess its condition at the end of the relief period before making the requisite announcements," they said.
The SC and Bursa also allowed a 24-month regularisation timeframe, instead of 12 months, for a listed issuer that announces between January 1, 2021 and June 30, 2021, that it had ceased all or major business or operations, or was classified as a PN17/GN3 listed issuer.
Lastly, they announced an 18-month relief period, instead of 12 months announced on April 16 last year, for a listed issuer that had triggered the suspended PN17 or GN3 criteria between April 17, 2020 and June 30, 2021.
They said a listed issuer would not be classified as a PN17/GN3 listed issuer during this period and be allowed to reassess its financial condition at the end of the relief period before making the requisite announcements.
"The SC and Bursa Malaysia will continue to monitor ongoing developments and assess if further measures will be required to support listed issuers during this challenging period," they added.