London, Friday, December 14, 2007 -- ARANCA NEWSTRACK – (aranca)
India, Republic of (Press Release) December 14, 2007 --
Malaysia's Securities Commission (SC) is to relax rules for initial public offerings next year, it has been confirmed.
The commission will waive a requirement that firms planning IPOs must issue earnings projections in January, according to Zarinah Anwer, chairman of the SC.
Instead they will be required to include management discussion and analysis MDA on the firm's financial conditions and prospects, The Malaysia Star reports.
Its move is intended to help the bourse to compete with increased levels of competition from Malaysia's regional bourses.
Ms Anwer said: "The exchange landscape is simultaneously getting crowded and undergoing consolidation at the same time.
"We wish to create a conducive environment that fosters more rapid corporate sector expansion both locally and abroad through capital-raising or through merger and acquisition activities."
The SC's move comes against a backdrop of falling IPOS in Malaysia this year, with 26 firms launching share sales so far.
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The commission will waive a requirement that firms planning IPOs must issue earnings projections in January, according to Zarinah Anwer, chairman of the SC.
Instead they will be required to include management discussion and analysis MDA on the firm's financial conditions and prospects, The Malaysia Star reports.
Its move is intended to help the bourse to compete with increased levels of competition from Malaysia's regional bourses.
Ms Anwer said: "The exchange landscape is simultaneously getting crowded and undergoing consolidation at the same time.
"We wish to create a conducive environment that fosters more rapid corporate sector expansion both locally and abroad through capital-raising or through merger and acquisition activities."
The SC's move comes against a backdrop of falling IPOS in Malaysia this year, with 26 firms launching share sales so far.
Copyright and Disclaimer:
Copyright 2007, Aranca. All Rights Reserved.
All the contents of this Site are only for general information or use. They do not constitute advice and should not be relied upon in making (or refraining from making) any decision.
Editors/Journalists/Blogs are invited to request republishing/dissemination rights. All requests to republish Aranca material for distribution should be addressed to:
Aranca Syndication Service at syndicate@aranca.com.
Tel: +91.22.4005 2219 / +91.22.6725 8115
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