[Accounting] Additional Relief Measure Announced by Bursa Malaysia

In light of the coronavirus pandemic (COVID-19) outbreak and Movement Control Order ("MCO"), Bursa Malaysia Berhad ("Bursa Malaysia" or the "Exchange") had announced the following additional relief measures for Main, ACE and LEAP Market Listed Issuers (collectively known as ("Public Listed Issuers")):

  1. On 16 April 2020, Public Listed Issuers are granted an extension of time until 30 June 2020 to submit their quarterly reports ("QR"), annual reports ("AR") and semi-annual and annual audited financial statements ("AFS") which are due by 31 May 2020; and
  2. On 6 May 2020, Public Listed Issuers with financial year ended on 31 March 2020 are granted an extension of time of 1-month to issue their AR and AFS by 31 August 2020, instead of 31 July 2020.

This extension is to accord sufficient time for these Public Listed Issuers to prepare the AR and AFS, as well as for auditors to carry out their audit engagements so that the quality and integrity of disclosures by Public Listed Issuers are not compromised despite these challenging times.

ILLUSTRATION OF TIMELINE FOR QR/AR/AFS FOR FINANCIAL YEAR ENDED 31 MARCH 2020 IS AS FOLLOWS:

Financial Year End 4th Quarter Deadline for QR AR and or AFS Deadline
31 March 2020 30 June 2020 31 August 2020

Notwithstanding the extension of time, Public Listed Issuers are reminded to comply with their continuing disclosure obligations under the Listing Requirements, including the obligation to make immediate announcements of any material information to ensure that shareholders and investors continue to receive information in a timely manner.

Source:
Extracted from the Exchange's official website
Click here for more details on the relief measure