Friday, December 4

SC invites public comments on proposed requirements for the listing of MOG Companies

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KUCHING: The Securities Commission Malaysia (SC) yesterday invited public feedback on the proposed requirements for the admission of companies involved in mineral, oil and gas exploration or extraction (MOG) activities to the Main Market of Bursa Malaysia Securities Bhd (Bursa Malaysia).

The SC in a statement yesterday said it observed increased interest in the listing of MOG companies, both directly through initial public offerings and indirectly through acquisitions by listed companies.

“Given the technical nature of and high risks associated with MOG businesses, the SC recognises the benefits of having a holistic framework to regulate companies engaged in such businesses.

“The proposed holistic framework, encompassing admission requirements and post-listing obligations, aims to enhance investor protection.

“The SC’s consultation paper sets out the proposed admission requirements, comprising eligibility and additional disclosure requirements.

“In drawing up these proposals, the SC undertook jurisdictional benchmarking and engagements with stakeholder focus groups,” the capital market regulator said.

Meanwhile, the SC encouraged members of the public to refer to the consultation paper which is available on its SC’s website for details of the proposals.

Feedback on the proposed requirements might be submitted through email to [email protected] by November 13.

Bursa Malaysia will also be issuing a consultation paper separately on the additional post-listing obligations for MOG listed issuers.