Bursa Seeks Public Feedback On Proposed Amendment To REIT And ETF With Waqf

The Exchange is seeking public feedback on the proposed amendments to the Main Market Listing Requirements in relation to listed real estate investment trusts and exchange-traded funds with waqf feature.

The proposed Waqf amendments Bursa said are meant to complement the Securities Commission Malaysia’s initiatives to broaden the range of Islamic capital market products which support socio-economic development, greater public good, and wealth distribution in the Malaysian capital market.

The disclosure enhancements include enhancing the immediate announcement requirement by requiring disclosure of changes to the waqf arrangements to promote greater transparency on specific key matters in a timely manner and enhancing the content of periodic reports to facilitate access to meaningful and value add information by unit holders,

Among them are requiring disclosure of the breakdown of the distribution to waqf recipients and unit holders on an interim basis; and the name of the waqf recipient and how investors can obtain more information on the waqf recipient and progress of the waqf initiatives on an annual basis.

Bursa is also looking to enhance the content of the distribution statement of a REIT to provide unit holders comprehensive insight into their distribution entitlement by including the net amount per unit recommended to be distributed to unit holders and waqf recipients respectively.

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