Further to my earlier article on bonus issue,reported in The Star:
“ Bursa Malaysia Securities Bhd (Bursa Securities) has announced that public listed companies (PLCs) whose accumulated losses exceed their reserves are not allowed to undertake bonus issues “.
Salient points extracted:
- In a statement announcing amendments to its listing requirements and Mesdaq market listing requirements in relation to bonus issues.
- Public listed companies were disallowed from undertaking bonus issues “if their accumulated losses exceed the reserves to be capitalised for the bonus issue”.
- It said the amendments were made as part of Bursa Securities’continuous efforts to enhance investor protection under its regulatory framework and listing requirements.
- The amendments will take effect immediately for all applications for listing of securities arising from bonus issues submitted to Bursa Securities on or after yesterday.
- The complete text of the amendments is available for reference along with a set of frequently asked questions and answers on Bursa Malaysia’s website at www.bursamalaysia.com
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FCCA,CA(MIA)with more than 26 years of post-qualifying working experiences. Previous working stints with one of the big accounting four,Regional GFC & Group Treasurer in a group of Malaysian and Group CFO in Singapore public listed concern.Also author to another very popular free educational accounting cum finance blog:http://basiccollegeaccounting.com under the branding of College Accounting Coach.
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