Bursa Malaysia Berhad (‘Bursa Malaysia’) officially launched its Public Listed Companies Transformation (‘PLCT’) Programme on 2 March 2022.
 
The PLCT Programme, which seeks to raise the stature of Corporate Malaysia and increase the attractiveness of investing in public listed companies ('PLCs’) in Malaysia through an improvement in numerous areas including financial position, corporate governance and sustainability, will run through to 2025. All PLCs, regardless of size, industry or shareholding, can volunteer to participate in the PLCT Programme.
 
The PLCT Programme is underpinned by five pillars, namely:

(collectively, ‘Five Pillars’).
 
A digital guidebook is to be issued to provide guidance to PLCs on each of the Five Pillars. The first digital guidebook, namely ‘Creating Purpose & Performance Driven Public Listed Companies (PLCs)’ was launched in conjunction with the official launch of the PLCT Programme. The remaining digital guidebooks are to be issued in stages throughout 2022.
 
Participating PLCs will be able to participate in various sharing or engagement initiatives, such as online webinars or workshops by industry champions or corporate leaders.
 
Towards the 4^th quarter of 2022, Bursa Malaysia will require participating PLCs to provide basic, periodic information to be shared on a digital dashboard, in an effort to promote transparency and encourage information sharing.
 
The PLCT Programme was first announced by the Finance Minister of Malaysia, Tengku Datuk Seri Utama Zafrul bin Tengku Abdul Aziz, on 14 October 2021. Our Alert on this announcement can be accessed here.
 
For an overview by Bursa Malaysia on the PLCT Programme and the manner in which PLCs can participate in, and benefit from, the PLCT Programme, please click here.
 
Alert by Francine Ariel Paul (Senior Associate) and Tiw Joe Yee (Associate) of the Corporate Practice of Skrine.