Bursa Malaysia Bhd. · MYX:BURSA
Bursa Malaysia Bhd — Investor Presentation (July 2009)
22 slides from Bursa Malaysia Bhd's investor presentation, Jul 6, 2009
Slide 1: The Main Market: Key Changes to the LR
THE MAIN MARKET Key Changes to the LR - PN17 Companies - Cash Companies - Default in Payment 6 July 2009 Ch’ng Boon Huat, Head, Issuers Investigation & Surveillance
Slide 2: Key Changes to Requirements for PN17 Companies
Key Changes Key Changes to to Requirements Requirements for for PN17 Companies PN17 Companies 2
Slide 3: Statistics of Financially Distressed Companies
Statistics of Statistics of Financially Financially Distressed Distressed Companies Companies • Statistics of Amended PN17, PN17 and PN4 companies as at 31 May 2009 PN Outstanding Regularised De-listed Amended PN17 40 7 34 PN17 2 13 7 PN4 1 87 40 Total 43 107 81 3
Slide 4: PN17 Co. - Change of Prescribed Criteria
PN17 Co. PN17 Co. -- Change Change of of Prescribed Prescribed Criteria Criteria Amendment to shareholders’ equity criterion Existing Criteria Main LR (a) shareholders’ equity (a) shareholders’ (a) shareholders’ equity equity (SE) •• ≤ 25% ≤ 25% of of the the issued issued & & paid- paid- • ≤ 25% of
Slide 5: PN17 Co. - Change of Prescribed Criteria (Cont'd)
PN17Co. PN17 Co.--Change Changeof ofPrescribed PrescribedCriteria Criteria(Cont’d) (Cont’d) No change to other Prescribed Criteria 5
Slide 6: PN17 Co. – Regularisation Flowchart
PN17Co. PN17 Co.––Regularisation RegularisationFlowchart Flowchart Trigger PN17 Criteria First Announcement Within 3 months Announce whether Plan will result in Significant Ì in Business Direction/ Policy Within 12 months Within 12 months Significant Ì NO Significant Ì Submit Plan to SC Submit Plan
Slide 7: PN17 Co. – New Requirements on Regularisation Obligations
PN17Co. PN17 Co.––New NewRequirements Requirementson onRegularisation RegularisationObligations Obligations Announce within 3 months from FA - whether the Disclosure Disclosure reg. plan will result in a significant change in business direction/policy If reg. plan will result in significant change i
Slide 8: Regularisation Plan
RegularisationPlan Regularisation Plan •• Sufficiently Sufficientlycomprehensive, comprehensive,capable capableof ofresolving resolvingall all problems, problems,financial financialor orotherwise otherwise •• Enable Enabletotoregularise regulariseits itsfinancial financialcondition conditionand andl
Slide 9: Regularisation Obligations
RegularisationObligations Regularisation Obligations Failureto Failure toComply Complywith with Obligationsto Obligations to Regularise Regularise TriggerPrescribed Trigger Prescribed Mustundertake Must undertakeaareg. reg.plan planwhich whichwill willresult result CriteriaWithin Within33Years Years
Slide 10: Key Changes to Requirements for Cash Companies
Key Changes Key Changes to to Requirements Requirements for for Cash Companies Cash Companies 10
Slide 11: What is a Cash Company?
What is What is aa Cash Cash Company? Company? AAlisted listedissuer issuerwhose whoseassets assetson onaa consolidatedbasis, consolidated basis,consist consistof of70% 70%or or Criteria moreof more ofcash cashor orshort shortterm terminvestments, investments, oraacombination or combinationofofboth
Slide 12: Cash Co. – Regularisation Flowchart
CashCo. Cash Co.––Regularisation RegularisationFlowchart Flowchart Trigger Cash Criteria Notify Bursa Securities in writing immediately upon receipt of the Exchange’s notice that it is a Cash Company Announcement Within 12 months Submit proposal to acquire a new core business to SC Obtain SC approva
Slide 13: Cash Co. – New Requirements
CashCo. Cash Co.––New NewRequirements Requirements Place > 90% cash & short-dated securities with account opened and operated by a custodian – cannot withdraw except for - to implement reg. proposal; or - to distribute to shareholders on pro-rata basis if fails to regularise Cash Company Submit Prop
Slide 14: Transitional Arrangements for Cash & PN17 Companies
Transitional Arrangements Transitional Arrangements for for Cash & Cash & PN17 PN17 Companies Companies 14
Slide 15: Transitional Arrangements for Cash & PN17 Companies
TransitionalArrangements Transitional Arrangementsfor for Cash&&PN17 Cash PN17Companies Companies ExistingCash Existing Cash&&PN17 PN17Company Companymay mayapply applyto toBursa Bursato to regulariseits regularise itscondition conditionunder undernew newframework framework PROVIDEDTHAT PROVIDED THA
Slide 16: Key Changes to Practice Note: Default in Payment
Key Changes Key Changes toto Practice Practice Note Note 11 Default in Default in Payment Payment 16
Slide 17: PN1 – Amendments to Event of Default
PN1––Amendments PN1 Amendmentsto toEvent Eventof ofDefault Default General - default not dependent on demand Existing Provisions Main LR (a) Default for credit facility is ≥ 5% (a) Default where thethe total (a) Default where total amount amount of PLC’s net assets outstanding outstanding of the def
Slide 18: PN1 – Amendments to Event of Default
PN1––Amendments PN1 Amendmentsto toEvent Eventof ofDefault Default No change to other Event of Defaults Event of Defaults default defaultinin default defaultinin payments paymentsof of payments payments interest in respect interest in respect under underaa ofofloan loanstocks stocksor or debenture;
Slide 19: PN1 – Amendments to Definition of Solvency
PN1––Amendments PN1 Amendmentsto toDefinition Definitionof ofSolvency Solvency Existing Provisions Main LR (c) “Solvent” if majority directors (c) “Solvent” (c) “Solvent” if if majority majority directors directors forms the opinion that PLC will be forms the forms the opinion opinion that that PLC
Slide 20: PN17 Co. - Definition of "net profit"
PN17Co. PN17 Co.--Definition Definitionof of“net “netprofit” profit” Net Netprofit profitafter afterminority minorityinterest interestand andexcludes excludesone oneoff off items, such as items, such as - - (i) (i)interest interestwaiver; waiver; (ii) (ii)negative negativegoodwill goodwillcredited c
Slide 21: Cash Co. – Definition of "Custodian"
CashCo. Cash Co.––Definition Definitionof of“Custodian” “Custodian” “Custodian” “Custodian”means meansany anyof ofthe thefollowing followingwho whoisisindependent independent of ofthe theCash CashCompany: Company: (a) (a)aatrust trustcompany companyregistered registeredunder underthe theTrust TrustC
Slide 22: Thank You
r Y BURSA VALAYS|A Izy Thank You 22