SC: Fully virtual meetings only in MCO, CMCO areas

KUALA LUMPUR – Listed issuers can only conduct fully virtual meetings in areas under Movement Control Order (MCO) and Conditional Movement Control Order.

Majlis Keselamatan Negara (MKN) had issued and/or updated a series of standard operating procedures (SOPs), including the SOP for the capital market, to minimise the risk of spreading the COVID-19 virus for the duration of the MCO that took effect on 13 January 2021.

In a statement on January 18, the Securities Commission Malaysia (SC) referred to its updated Guidance Note on the Conduct of General Meetings for Listed Issuers, that hybrid or physical meetings may only be conducted in areas under Recovery Movement Control Order or areas not subjected to any movement restrictions.

Meanwhile, the SC’s office remains open throughout the MCO although its walk-in complaints service has been suspended for the time being.

Members of the public can continue to email their enquiries or complaints to the SC at [email protected]

Alternatively, the public can contact SC’s Aduan hotline at +603 6204 8999 (9am – 5pm Monday to Friday).

SC also said capital market participants (CMPs) as essential service providers under the services sector, can continue to undertake and provide capital market activities and services.

This will be in accordance with the applicable standard operating procedures (SOPs) issued by the authorities during the Emergency Ordinance and various forms of MCO, it said.

CMPs who may require verification letter(s) to facilitate travel movements for their employees or third party service providers for critical functions can email their requests or queries to [email protected]

The updated Guidance Note and the form to apply for a time-limited travel exemption to conduct fully virtual general meetings can be downloaded from https://www.sc.com.my/regulation/corporate-governance and queries can be directed to [email protected]

All CMPs are reminded to adhere to applicable SOPs, including observing 30% of management staff at their premises and suspending sales and marketing activities outside their premises or in public places for areas under MCO.