Securities Commission Malaysia (SC) published a consultation paper seeking feedback on proposals to enhance the value proposition of Malaysia’s public market through changes to listing frameworks for the MAIN and ACE Markets. The proposals are intended to improve issuer access to listing while ensuring the public markets are clearly defined with fit-for-purpose requirements. The consultation covers enhancements to MAIN Market listing routes under the profit test and the infrastructure project corporation test, and proposes flexibility around the requirement for positive operating cash flow for MAIN Market listings. For the ACE Market, it proposes aligning listing requirements more closely with the market’s sponsor-driven framework to reinforce its role as a stepping stone for small- and mid-sized corporations. The consultation period runs from 12 November 2025 to 31 December 2025, with the reforms targeted for implementation in the first half of 2026.
Malaysia Securities Commission 2025-11-12
Securities Commission Malaysia launches consultation on MAIN and ACE Market listing reforms
Securities Commission Malaysia has released a consultation paper on proposed changes to listing frameworks for the MAIN and ACE Markets to enhance Malaysia's public market value proposition. The proposals aim to improve issuer access and include adjustments to MAIN Market listing routes and ACE Market alignment with its sponsor-driven framework.