Bursa Malaysia Strengthens Board Effectiveness Through Enhancements to the Main and Ace Market Listing Requirements

Bursa Malaysia Berhad (“Bursa Malaysia” or “the Exchange”) announces the enhanced requirements in the Main and ACE Market Listing Requirements (“the Listing Requirements”), aimed at further strengthening board independence, quality and diversity.

To promote board quality and strengthen board independence, the enhanced Listing Requirements now limits the tenure of an independent director to not more than a cumulative tenure of 12 years in a listed issuer and its group of corporations. All long serving independent directors impacted by this enhancement must resign or be re-designated as non-independent directors by 1 June 2023.

For more details, please see the attached the media statement.