Bursa unveils enhanced requirements

“All long serving independent directors impacted by this enhancement must resign or be redesignated as non independent directors by June 1, 2023,” Bursa Malaysia said.

KUALA LUMPUR: Bursa Malaysia Bhd has announced enhanced requirements for Main and ACE Market listings to further strengthen board independence, quality and diversity.

The enhanced listing requirements now limits the tenure of an independent director to not more than a cumulative 12 years in a listed issuer and its group of corporations, the regulator said in a statement.