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Madam YS
6,888 posts
Posted by Madam YS > 2013-12-28 12:39 | Report Abuse
Bursa Malaysia will shorten the time frame for the issuance of annual reports under its listing requirements.
The changes will be introduced in phases to provide public-listed companies (PLCs) time to prepare for and meet the new requirements, the exchange said on Thursday.
Under the phased approach, PLCs are required to issue their annual reports for financial year ending on or after December 31 next year, within five months from the close of the financial year.
Following that, annual reports for financial year ending on or after December 31 2015 must be issued within four months from the close of the financial year.
The new requirements are made following the public consultation paper issued on May 31 and the review undertaken by a taskforce established under the Corporate Governance Blueprint 2011.
Meanwhile, Bursa Malaysia has expanded the form, in which annual reports can be issued, to any electronic formats other than CD-ROM.