Bursa Malaysia: Main and ACE Markets to come on-stream 3 August 2009

Bursa Malaysia: Main and ACE Markets to come on-stream 3 August 2009

Bursa Malaysia today reminded that the new board structure, which is the Main Market and ACE Market, is on schedule to be implemented on 3 August 2009.

As part of a market-based approach, the streamlining of the boards structure entails a new regulatory framework for listing and equity fundraising which was announced by the Securities Commission (SC) and Bursa Malaysia on 8 May 2009. With this, Bursa Malaysia’s Listing Requirements has been revamped to cater for the new structure.

Under the new structure, Main and Second Boards will be merged into a single unified board for established companies and will be called the Main Market. The current MESDAQ Market, which is for technology-based and high growth companies, will also be transformed into an alternative market for emerging companies of all sizes and sectors and will be called the ACE Market.

The new board structure provides companies with a clearly defined platform to raise capital, which will enhance efficiency, access and certainty in the fund raising process as well as ensuring that investor protection remains intact.

Following from the change, the FTSE Bursa Malaysia Second Board index will retire while the FTSE Bursa Malaysia MESDAQ index will be renamed as the FTSE Bursa Malaysia ACE index. Eligible Second Board constituents will be absorbed into the Main Market indices. These changes will take effect on 3 August 2009.