Listed Companies Get Much Needed Relief Extension From Bursa Malaysia

Bursa Malaysia Berhad today announced additional relief measures to assist listed issuers amid the COVID-19 pandemic. These measures are in addition to those introduced in February and May this year, after considering the lingering impact of various Movement Control Orders and the recent FMCO nationwide lockdown.

The additional relief measures includes an extension of time to submit financial statements due on 31 July and 31 August 2021. An automatic 1-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 31 July 2021 and 31 August 2021, respectively. Notwithstanding the 1-month extension, Bursa has reminded listed issuers to promptly announce any material information to ensure informed investment decisions by shareholders and investors at all times.

As for the relief period to listed issuers with unsatisfactory financial conditions and inadequate level of operations between now and end of the year, Bursa is giving an 18-month relief period for a listed issuer that trigger the suspended PN17 or GN3 criteria and the listed issuer will not be classified as a PN17/GN3 listed issuer during this period. A 12-month relief period will be extended for a listed issuer who announces that it has an insignificant business or operations.

Both the relief measures above will allow an affected listed issuer to reassess its financial condition or level of operations at the end of the relief period before making the requisite announcements to the Exchange. In issuing the statement, the Exchange is stepping up relief measures to ease compliance requirements and help alleviate the impact of the COVID-19 pandemic faced by listed issuers and the community.

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