Malaysia – Flexibility Granted For Listed Issuers On AGMs And Issuance Of Periodic Reports.

The Securities Commission Malaysia (“SC”) and Bursa Malaysia Berhad (“Bursa”) are allowing flexibility to listed issuers on the timing of AGMs for listed Real Estate Investment Trusts (“REITs”) and the issuance of quarterly and annual reports of listed corporations. This is following the movement control order implemented by the Government of Malaysia to combat the Covid-19 outbreak. The movement control order is in force from 18 March 2020 until 31 March 2020.

In a joint statement on 17 March 2020, the SC and Bursa stated that listed corporations which may only be able to hold their AGMs beyond the prescribed six-month period as stipulated under the Companies Act 2016 can apply to defer their AGMs with the CCM.

In addition, the SC has granted a two-month extension for REIT managers of listed REITs with a financial year-end of 31 December 2019 to hold AGMs by 30 June 2020.

The joint statement can be found here: https://tinyurl.com/r36wnob.