Kuala Lumpur Stock Exchange Demutualisation Postponed To Q1 2004

The Kuala Lumpur Stock Exchange (KLSE) will not demutualise by the end of this year after all. Demutualisation is now more likely to take place in the first quarter of 2004, according to KLSE Executive Chairman, Datuk Mohd Azlan Hashim,

By None

The Kuala Lumpur Stock Exchange (KLSE) will not demutualise by the end of this year after all. Demutualisation is now more likely to take place in the first quarter of 2004, according to KLSE Executive Chairman, Datuk Mohd Azlan Hashim, who explained that the Demutualisation Bill is not scheduled for its second reading in the Malaysian Parliament until September 2003. It was expected to complete its passage this month.

The Bill was tabled for its first reading in June 2002, but the abbreviated parliamentary session (it lasted just eight days) meant it was crowded out. Once the legislation is passed by the Dewan Rakyat (House of Representatives), it will be tabled in the Dewan Negara (Upper House) prior to being gazetted.

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