Seven years since Xing Quan’s debut on Bursa Malaysia, 10 other foreign companies have floated their shares here – all China-based ones – although the plan was to draw companies from various countries. To ensure compliance of the foreign companies with the listing requirements, Bursa said it has regular engagements with audit committee members, the advisers, statutory auditors and management. “Where there is a contravention of the listing requirements, Bursa will not hesitate to initiate enforcement proceedings and take relevant actions as deemed appropriate under the listing requirements and the law against the errant company and its relevant directors,” it added. Separately, the failure to draw quality foreign IPOs to Bursa remains a concern, given the lack of new local listings. This shows that our efforts in enhancing the attractiveness of Bursa Malaysia as a preferred listing destination is bearing fruit,” Bursa told the weekly.

Source: The Edge Markets September 17, 2016 04:07 UTC