News
Revision of Listing Fees
BackApr 25, 2006
| General Announcement Reference No BM-060425-70806 |
| Company Name | : | BURSA MALAYSIA BERHAD |
| Stock Name | : | BURSA |
| Date Announced | : | 25/04/2006 |
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| Type | : | Announcement |
| Subject | : | Revision of Listing Fees |
Contents :
Bursa Malaysia Berhad ("Bursa") is pleased to announce that it has today received approval from the Securities Commission ("SC") for its proposal to revise the listing fee structure for listing on the Main Board, Second Board and MESDAQ Market of Bursa Malaysia Securities Berhad ("Bursa Securities"). The listing fee structure revision covers the following:
a) Initial Listing Fee;
b) Additional Listing Fee; and
c) Annual Listing Fee.
The key features of the revision are:
i) the formation of a single listing fee structure for both the Main Board and Second Board, in view of the nature of work required for the listing on the Main Board and Second Board is the same.
In cognisance of Bursa's role in promoting growth and technology companies, a lower fee structure will be adopted for MESDAQ Market. This is also to ensure the competitiveness of MESDAQ Market vis-?-vis other similar markets in the region.
ii) the change in the basis of computation of listing fee from nominal value to market value of the respective companies and securities. The change is reflective of the value and profile accorded to listed issuers.iii) a higher minimum and maximum fee. The increase in the minimum and maximum fee imposed on the initial and annual listing fee is, amongst others, to reflect the increase in the minimum capital requirements of RM40 million and RM60 million for Main Board and Second Board respectively.
The revised listing fee structure for the Main Board, Second Board and MESDAQ Market as set out in the attached Table 1 and 2 will be implemented in two phases:
First Phase - To implement with a 50% rebate on the fee increase effective 1 January 2007
Second Phase - To implement with the new fees applied in full effective 1 January 2008
Second Phase - To implement with the new fees applied in full effective 1 January 2008
The listing fees for the Main Board and Second Board have not been reviewed since May 1991 and 1997 in the case of MESDAQ Market. The new fee structure will better reflect the value of a listing on Bursa and the current cost of delivering services. Notwithstanding the revision in the listing fees, Bursa will still remain an attractive listing avenue vis-?-vis other exchanges.
The implementation of the revised fees is expected to have a positive impact on the listing revenue of Bursa.
Bursa is committed and will continue its effort to pursue various strategic initiatives to add value to its listed companies in line with its mission to offer an internationally competitive marketplace for fund raising and investment.
This announcement is dated 25 April 2006.
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