Bursa Malaysia Berhad (Bursa Malaysia) has announced additional relief measures to assist and support listed issuers during the Covid-19 pandemic.
The Exchange has granted a further extension of time for listed issuers to submit its financial statements and has granted greater flexibility for fundraising through an increased general mandate limit for the new issue of securities.
The relief measures comes as Putrajaya’s policy actions to mitigate the challenges businesses and listed issuers face in terms of recovery.
“We acknowledge the unprecedented impacts arising from Covid-19 and the challenges experienced by listed issuers. Given the current circumstance, these temporary measures are intended to ease compliance by listed issuers and facilitate the fundraising for their working capital requirements in a timely and cost-effective manner. The temporary measures will also allow listed issuers to have a greater focus on prioritising their resources to overcome the economic and business challenges posed by Covid-19,” said Muhamad Umar Swift, chief executive officer, Bursa Malaysia.
Listed issuers will be granted an extension until June 30 for the submission of quarterly and annual reports by Main and ACE Market listed issuers as well as semi-annual and annual audited financial statements of LEAP Market listed corporations that is due by April 30.
Additionally, listed issuers can increase the general mandate threshold for new issue of securities from the existing 10 percent to not more than 20 percent of the toal number of issued shares.
The 20 percent general mandate however must be approved by shareholders in a general meeting.
“We will continue to engage with capital market participants to provide additional focused solutions as deemed appropriate, that can allow them to navigate smoothly through the fast-shifting operating environment,” concluded Umar.