KUALA LUMPUR – The Securities Commission Malaysia (SC) and Bursa Malaysia Berhad (Bursa Malaysia) on March 19, provided further details on the additional relief measures under the PEMERKASA Strategic Programme announced by the Prime Minister on 17 March 2021.
These measures, which include a 12-month waiver and rebate on listing-related fees, will reduce the fundraising cost for companies and provide further financial relief to listed issuers. Details of these measures include –
- A 12-month waiver on listing-related fees for IPOs effective 17 March 2021
a. A 100% waiver on processing fee, including prospectus registration fee for companies seeking to list on ACE and LEAP Market, as well as those with less than RM500 million market capitalisation on Main Market;
b. A 100% waiver on initial fees and annual listing fee for companies with less than RM500 million market capitalisation;
c. A 50% waiver on initial fee and annual listing fee for companies of RM500 million market capitalisation and above.
- A 50% rebate of annual listing fees for the year 2021 for listed issuers that meet the following criteria:
a. Market capitalisation below RM500 million as of 31 December 2020;
b. Report financial losses as measured by Group loss after tax in their quarterly report for a quarter ended on any date between 1 February to 30 April 2021 (inclusive) notwithstanding the date of submission of the same.
- A waiver on processing, perusal and listing fees on regularisation proposals received by 31 December 2021
a. From listed issuers that have been classified as a PN17/GN3 company;
b. Cash company as set out in para 8.03 of the Main Market Listing Requirements and ACE Market Listing Requirements;
c. Companies with an inadequate level of operations as set out in para 8.03A of the Main Market Listing Requirements and ACE Market Listing Requirements.
The SC and Bursa Malaysia will continue to monitor ongoing developments and assess if further measures will be required to support listed issuers during this challenging period.