This initiative is aimed at improving access to public listings for issuers, besides clarifying the roles and strengthening the differentiation of each market segment, which are as follows:
- MAIN Market – Premier market for larger, more established corporations
- ACE Market – Market for small and mid-sized corporations, serving as a stepping-stone to the MAIN Market
These enhancements follow the public consultation concluded in December 2025 under the market segmentation review, incorporating feedback from various stakeholders.
The adopted proposals for the MAIN Market will take effect on 3 June 2026 through the revised Equity Guidelines.
The SC Chairman Dato’ Mohammad Faiz Azmi said the enhancements reflect the SC’s continuous commitment to a regulation that is fit-for-purpose—balanced, facilitative and responsive to evolving business models.
''This initiative supports the SC’s wider effort to enhance regulatory efficiency and governance excellence as outlined in the Capital Market Masterplan 2026-2030,'' he said.
Key enhancements include:
- MAIN Market: Higher profit requirements, stronger financial reporting quality, greater flexibility in operating cash flow assessment and broader eligibility for infrastructure-type of listings.
- ACE Market: Reinforced as a sponsor-driven market, with a minimum two-financial year post-listing track record before transfer to MAIN Market, removal of exemptions on sponsorship and moratorium, and the introduction of minimum public share allocation requirements.
Dato’ Faiz added, “In essence, the clearer segmentation strengthens differentiation between market tiers, enhances listing quality and provides a structured progression pathway for companies to scale from ACE to MAIN Market.’’
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