SC Seeks Feedback on Proposals Under the Market Segmentation Review
Kuala Lumpur, 12 November 2025
The Securities Commission Malaysia (SC) today published a consultation paper, inviting feedback on various proposals to enhance value propositions of the public market.
The consultation paper is related to listings on the MAIN and ACE Markets. The proposals aim to improve accessibility to listing for issuers and to ensure that the public markets are clearly defined with fit-for-purpose frameworks.
The consultation paper seeks feedback on several key areas. They include:
Enhance the routes for listing on the MAIN Market under the profit test and infrastructure project corporation (IPC) test.
Provide flexibility on the need for positive operating cash flow for listings on the MAIN Market.
Strengthen the ACE Market’s role as a stepping stone for small- and mid-sized corporations by aligning the listing requirements with the ACE Market’s sponsor-driven framework.
The SC welcomes responses from a wide range of stakeholders to ensure a constructive consultation process.
The reforms to MAIN Market and ACE Market listings are targeted to be implemented in first half of 2026.
The Securities Commission Malaysia (SC) was established on 1 March 1993 under the Securities Commission Act 1993 (SCA). We are a self-funded statutory body entrusted with the responsibility to regulate and develop the Malaysian capital market.
