Bursa Malaysia, LSEG launches a centralized sustainability reporting platform next month: PM

KUALA LUMPUR: Bursa Malaysia and the London Stock Exchange Group (LSEG) will launch a centralized sustainability reporting platform next month.

Prime Minister Datuk Seri Anwar Ibrahim (Picture) said the platform will allow companies, both listed and unlisted small and medium-sized enterprises (SMEs), to calculate their impact on carbon emissions.

It will also help companies to disclose standardized common environmental, social and governance (ESG) data in a way that conforms to established global standards.

“This platform has the potential to become a key enabler for Malaysia’s green transition and support our sustainable development while creating high quality jobs for our progress towards a high income nation,” he said in his keynote speech at Invest Malaysia 2023 here. Today.

Anwar said Malaysia is not only open but also accelerating the transition and transformation of industries and local actors towards ESG adoption, even for SMEs.

For example, he said consultations and engagements with local and international stakeholders are underway through the Department of International Trade and Industry (MITI) to develop the national ESG framework for manufacturing by 2024.

“Malaysia is taking the lead on the journey to a low-carbon journey by launching a platform to help businesses measure, monitor and drive carbon reduction,” he said.

Facing the growing need for companies to scale their businesses, he said that the Securities Commission Malaysia (SC) will launch the LEAP Market Transfer Framework together with Bursa Malaysia to allow companies to migrate from the LEAP market to the ACE market.

At the same time, he said Bursa Malaysia will introduce a new framework for recognized Approved Consultants, which will expand the pool of consultants for the ACE market.

“The new investment policy is a forward-looking framework to ensure we remain prepared to respond to changes in the global economy and to drive investment in future growth sectors. In many ways, she guides, facilitates and helps implement reforms to strengthen the fundamentals of our investment ecosystem.

“We are open to innovation in new opportunities; part of it is looking at intellectual property (IP) policies to address issues like “evergreening,” or artificial extensions of market exclusivity, that exist in certain sectors,” he said.

Efforts are also being made to improve government advisory services for local businesses and entrepreneurs in their efforts to create and exploit intellectual property, according to the Prime Minister.

“We are open to agile incentives; These include fiscal and non-fiscal incentives on a more sector-agnostic basis to allow agility in adapting to evolving technologies and global priorities – including projects in renewable energy, digital economy and research and development that enable savings across sectors.

“We are open (and striving) to better serve the needs of companies and investors. As far as I know, there are parties who are concerned about the government’s announcement that it is investigating capital gains tax on unlisted shares at a low rate,” he said.

In this regard, Anwar said the government will ensure taxation is only finalized after full cooperation with stakeholders and will not be imposed on listed shares, while disposal of unlisted shares for an approved IPO is also not subject to capital gains tax. – Bernama