Corporate/M&A
Amendments to the Main Market Listing Requirements (“Main LR”) and ACE Market Listing Requirements (“ACE LR”)
On 26 February 2025, Bursa Malaysia Securities Berhad issued amendments to the Main LR and ACE LR Requirements following the revised Equity Guidelines by the Securities Commission Malaysia, effective from 1 March 2025, in relation to significant change in the business direction or policy of listed corporations, including backdoor listings and reverse takeovers.
The announcement for the Main LR can be accessed here and the announcement for the ACE LR can be accessed here.
Securities Commission’s Simplified Guide on the National Sustainability Reporting Framework
The Securities Commission (“SC”) on 20 January 2025 had issued a simplified guide titled ‘Navigating the Transition: A Guide for Boards’ (“Board Guide”) to support board of directors of companies in adopting the National Sustainability Reporting Framework (“NSRF”). The NSRF was launched on 24 September 2024 to primarily enhance the standard of sustainability disclosures in Malaysia.
The NSRF addresses the use of the International Sustainability Standards Board’s (“ISSB”) IFRS Sustainability Disclosure Standards as the benchmark for Malaysia companies. The Board Guide provides board of directors with simplified and actionable steps on key areas such as governance, sustainability data boundaries, financial impact assessments, and integration with enterprise risk management systems.
Listed issuers on Bursa Malaysia’s Main and ACE Markets, as well as large non-listed companies (“NLCos”) with annual revenue of RM2 billion and above will have to comply with the new reporting requirements in a phased approach. Large-listed issuers on the Main Market with market capitalisation of RM2 billion and above will begin using the ISSB Standards in 2025 (Group 1). This will extend to other Main Market listed issuers in 2026 (Group 2), followed by listed issuers on the ACE Market as well as large NLCos in 2027 (Group 3)
