Is there a valid fire certificate for every designated premises occupied by the listing group? Pursuant to section 28(1) of the Fire Services Act 1988, every designated premises shall require a fire certificate. Designated premises are premises with the use, size or location as set out under the Fire Services …

Are there CCC or CF for all properties occupied by the Group? It is an offence under section 70(27) of the Street, Drainage and Building Act 1974 (“Act”) for any person to occupy or permit to be occupied any building or part thereof without a certificate of completion and compliance …

This is a question I often get when seeking information from directors and key senior management on their shareholding to be disclosed in prospectus. The following are situations I usually encounter where a person is deemed to have indirect interest in shares: – A director of a company is deemed …

Companies which intend to undertake IPO during the COVID-19 pandemic may need to disclose the impact of COVID-19 on their business and operations in prospectus. Some of the additional disclosure in prospectus during the COVID-19 pandemic may include: – whether the pandemic and the movement control order (MCO) imposed by …

Bursa Malaysia Securities Berhad (“Bursa Securities”) has assumed the functions of prospectus review and registration in respect of ACE Market initial public offering (“IPO”) and listing from the Securities Commission Malaysia (“SC”) since 1 January 2022. The following laws and guidelines have been amended to facilitate the migration of the …

A company which intends to undertake IPO should start identifying candidates for independent directors as soon as possible. The definition of “independent director”, read together with the relevant Practice Note/Guidance Note in the Listing Requirements, provides a non-exhaustive list of what an independent director should not be. If a person …

It is never too early for a company which intends to undertake an IPO to ensure that it complies with all applicable laws. Under the Prospectus Guidelines, a company seeking for listing must disclose any non-compliance of the relevant laws, regulations, rules or requirements governing the conduct of the group’s …

Prior to an IPO, it is common for promoters of IPO to restructure the assets, business or corporate structure of the group of companies undertaking the IPO i.e. the listing group. The promoters are usually the owners of the assets and business as well as the shareholders and directors of …

The following are some of the steps a company preparing for an initial public offering (“IPO“) needs to take: Get banks’ consent if there is any declaration of dividend prior to the IPO by the borrower company which is part of the listing group and there is covenant to obtain …

An initial public offering (“IPO”) is a major corporate exercise which requires commitment from all parties involved. To ensure the IPO proceeds smoothly, a company seeking for listing may consider: 1. Identify the relevant persons within the company who are responsible for providing information relating to legal, secretarial, financial, accounting …