The Securities Commission of Malaysia building in Kuala Lumpur.
KUALA LUMPUR: The Securities Commission (SC) is reviewing its due diligence guidelines to enhance effectiveness in the evaluation of corporate proposals, said deputy chief executive Datuk Ahmad Fairuz Zainol Abidin.
The revised guidelines would provide clarity on standards and expectations, as well as the accountability of the parties involved.
"The review involves collaboration with industries and legal and accounting professionals," he said at the Capital Market Conference 2017 in KUala Lumpur on Tuesday.
Ahmad Fairuz said the SC was aware that a proactive and proportionate approach was essential in optimising opportunities and managing challenges emerging from the changing economic and market landscape.
"A key item in our agenda is to ease access to the capital market, by reducing time-to-market for product issuances and increasing operational efficiencies.
"For example, over the years, we have pursued the incremental liberalisation of our regulatory framework for select market segments which have attained a certain level of maturity and readiness," he said.
The one-day conference was organised by the Malaysian Institute of Accountants (MIA) to highlight topics related to the current developments in the capital market and the importance of business valuations in the fast changing world.
MIA chief executive officer Dr Nurmazilah Mahzan said that as Malaysia geared up towards becoming a global destination for investments, the quality of capital market corporate governance would create a significant distinction.
"To attract, retain and protect the interest of the investors, the accountancy profession clearly has a huge and important role to play in building a credible, reputable and competitive capital market," she said.
The conference also touched on topics related to integrated reporting as the way forward and the impact of financial technology in the securities market.
Nurmazilah said MIA would continue to work closely with other stakeholders to build a stronger regulatory and corporate governance framework in the country.
"The MIA and SC Malaysia are encouraging more companies to adopt integrated reporting as a means of going forward," she added.
Meanwhile, Bursa Malaysia Bhd
chief operating officer Datin Azalina Adham said the local bourse would soon unveil the Leading Entrepreneur Accelerator Platform (LEAP), to be launched by Prime Minister Datuk Seri Najib Tun Razak.
"Although there are banking facilities, crowd funding and the ACE market, LEAP will fill the gap in offering small and medium enterprises an alternative to raising capital,” she said on the sidelines of the conference.
Azalina added that LEAP's requirements were lighter compared with those in place for the ACE market. - Bernama
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