Kuala Lumpur, 20 December 2012

SC and Bursa Invite Comments on Proposed Best Practice Guide on Independent Advice Letters

The Securities Commission Malaysia (SC) and Bursa Malaysia Securities Bhd (Bursa Securities) today published a joint consultation paper seeking public feedback on the proposed Best Practice Guide on Independent Advice Letters (IAL Guide).

The draft IAL Guide is part of the continuous efforts by the SC and Bursa Securities to improve the quality of disclosures and enhance investor protection.

Currently, an Independent Adviser is required to be appointed for various corporate proposals including major disposals, related party transactions and withdrawals of listing. Independent Advisers play an important role in safeguarding the interests of shareholders. Hence, it is crucial for an Independent Adviser to provide quality and meaningful advice for shareholders to make informed decisions via its Independent Advice Letters (IALs).

Through the public consultation paper on the draft IAL Guide, the SC and Bursa Securities seek to solicit feedback and views on the proposed IAL Guide, including recommended improvements and suggestions for IAL quality enhancements from stakeholders.

The joint consultation paper in relation to the draft IAL Guide is available at here at the SC website and Bursa Malaysia website (www.bursamalaysia.com). Please submit your written comments to the address/email below by 31 January 2013.

Transaction Disclosures Department
Securities Commission Malaysia
3 Persiaran Bukit Kiara
Bukit Kiara
50490 Kuala Lumpur
E-mail: IALGuide@seccom.com.my
Fax: 603 – 6201 5655

Listing Division
Bursa Malaysia Berhad
9th Floor, Exchange Square
Bukit Kewangan
50200 Kuala Lumpur
E-mail: noraini@bursamalaysia.com
Fax: 603 – 27323263