Relief measures announced by the Securities Commission Malaysia (SC) to ease the cost burden of capital market participants as well as complement the wider relief effort under the ESPs and economic recovery plan as listed below:

1. Announcement dated 13 August 2020
   The SC will temporarily increase the gearing limit for Malaysian real estate investment trusts (M-REITs) from 50% to 60%, effective immediately, until 31 December 2022. The temporary increase in gearing limit will provide M-REITs greater cash flow flexibility and allow M-REIT managers to manage their REIT’s debt and capital structures more efficiently, especially in light of the challenging operating environment during the COVID-19 pandemic.

2. Announcement dated 10 July 2020
   The SC and Bursa Malaysia are implementing temporary revisions to existing market management and control mechanisms for a six-month period from 20 July 2020 to 18 January 2021. This include (1) Revised Static and Dynamic Price Limits for FBMKLCI Component Stocks, and (2) Revised Circuit Breaker Trigger Levels. The decision for these precautionary measures took into account global market conditions that remain volatile amidst persistent uncertainties due to Covid-19, continued economic weaknesses and the re-escalation of geopolitical tension.

3. Announcement dated 18 June 2020
   • A third version of the Guidance and FAQs on the Conduct of General Meetings for Listed Issuers was released pursuant to the issuance of the standard operating procedure “SOP Am Pelaksanaan Majlis Kerajaan dan Swasta” by the Malaysian National Security Council on 16 June 2020. This Guidance Note is applicable to all issuers listed on Bursa Malaysia on the conduct of general meetings, including Annual General Meeting (AGM), Extraordinary General Meeting (EGM) and Meeting of Unit Holders during a period when the RMCO is in place or outside of the RMCO period. This includes the conduct of fully virtual, hybrid and physical general meetings. The Guidance Note will be updated as and when required to ensure that they are aligned with the Government’s measures to curb the spread of COVID-19. Any query in relation to this Guidance Note can be directed to AGM@seccom.com.my. There is a survey on the conduct of fully virtual general meeting:
     • For listed issuers
     • For shareholders

4. Announcement dated 8 May 2020
   • To minimise the risk of COVID-19 at the workplaces while dealing with employees, agents, and external parties, the SC released the Guidance on COVID-19 Health and Safety Measures outlines the health and safety measures, and steps to be taken by a capital market participant (CMP) in planning and managing the return of its operations to full capacity.

5. • The pandemic has become the catalyst for digital transformation at scale and pushing many business owners to use digital channels such as social media, messaging applications and video streaming sites to delivering values to their customers. A Guidelines on Advertising for Capital Market Products and Related Services was released. For more information about the new guide, refer to the FAQs.

6. Announcement dated 9 April 2020
   • The fund management and unit trust management companies are reminded on their obligations to act in the best interest of investors at all times and to ensure fair treatment of their clients. SC’s expectations of Capital Market Services Licence (CMSL) holders managing investors’ monies and funds are listed here

7. Announcement dated 7 April 2020
   • Securities Commission Malaysia’s Audit Oversight Board emphasised the need for high quality audit in light of the Covid-19 pandemic.

8. Announcement dated 26 March 2020
   • Margin financing flexibilities for capital market participants
     • Brokers may, at their discretion, not make margin calls or impose haircuts on any collateral and securities purchased and carried in margin accounts. They are also empowered to exercise their discretion whether or not to impose force selling measures on clients.
     • Previously, brokers were required to automatically liquidate clients’ margin accounts if the equity in those accounts falls below 130% of the outstanding balance.
     • The SC has also approved a broader list of accepted collaterals for margin financing. With this flexibility, brokers can now accept other collaterals, such as bonds, unit trusts, gold and immovable properties to maintain their clients’ margin accounts, and value these collaterals accordingly.
     • All the above, which takes effect 27 March – 30 September 2020, are subject to brokers meeting their own capital adequacy ratio and shareholder funds as required by Bursa Malaysia. They are also expected to exercise discretion in accordance with their own credit risk policies.

9. Announcement dated 24 March 2020
   • Waiver of the SC’s annual licensing fees for 2020 on the core regulated activity of all Capital Markets Services Licence (CMSL) entities with Profit Before Tax of RM5 million or less during Financial Year 2019. A qualifying CMSL entity who has already made the payment prior to this announcement will be offered a credit to offset next year’s licensing fees.
   • Waiver of the annual licensing fees for the Year 2020 for all individual CMSL holders and Capital Markets Services Representative’s Licence (CMSRL) holders. A qualifying CMSRL holder who has already made the payment prior to this announcement will be offered a credit to offset next year’s licensing fees.
   • Reduction of the minimum Continuing Professional Education (CPE) requirements to 10 CPE points from the current 20 CPE points effective 1 July 2020 for a period of 12 months for all CMSRL holders and Employees of Registered Persons (ERPs).
   • Reduction of the minimum training requirements to three days from the current five days effective 1 July 2020 for a period of 12 months for Trading Representatives and Marketing Representatives.
   • One-off training subsidy for existing registered firms of Audit Oversight Board (AOB) with less than 10 audit partners, up to RM30,000 per firm for Approved Training Programmes conducted by the Malaysian Institute of Certified Public Accountants (MICPA).

More COVID-19 Related Announcements by the SC is available here.

Bursa Malaysia relief measures are targeted to a broader group of participants within the capital market. These measures are designed to help lessen the financial burden and provide greater flexibility in navigating the challenging period posed by the COVID-19 pandemic. Details as below:

1. Announcement dated 22 June 2020
   Two new features were added to the mobile application “Bursa Anywhere”: application of new Central Depository Services (“CDS”) accounts and e-Dividends. While the CDS accounts offers new and existing investors the convenience of applying for new CDS accounts remotely; e-Dividend subscription feature allows users to receive cash dividend entitlements via e-payments instead of cheques. In addition, for both new releases, all registration fees will also be waived for one-month starting 22 June 2020.

2. Circular dated 26 March 2020
   • Rebate of 50% of the annual listing fees for the year 2020 for qualified listed issuers
   • Extension of time to submit regularisation plan for PN17/GN3 and 8.03A Listed Issuers
   • Automatic 1-month extension to submit financial statements
   • Greater flexibility for brokers to manage margin accounts
   • Expanding the list of collaterals for purposes of margin financing
   • Shortened counter service hours by market participants following the Movement Control Order
   • Extension of time for submission of CDS transaction forms to Bursa Malaysia
   • Details of the reliefs as stated here and its press release.

3. Circular dated 17 March 2020
   • Application for extension of time to hold Annual General Meeting (AGM) for listed corporations and listed REITs
   • Application for extension of time for submission of quarterly report
   • Details of the reliefs as stated here.

Bank Negara Malaysia (BNM) announced a number of regulatory and supervisory measures to allow banking institutions to remain focused on supporting the economy during these exceptional and unprecedented circumstances, by providing flexibility for banking institutions to respond swiftly to the needs of their customers.

1. Announcement dated 30 July 2020
   The PENJANA Tourism Fund has been setup to assist Malaysian small and medium-sized enterprises (SMEs) in the tourism sector affected by the pandemic. Eligible microenterprises and SMEs may apply for financing up to RM75,000 and RM300,000 respectively, with a financing rate of up to 3.5% per annum for a financing tenure of up to 7 years.
   • Booklet on PENJANA Tourism Fund
   • FAQ on PENJANA Tourism Fund

   Tips for SMEs
   Short videos from BNM’s past webinars BNM (in Bahasa Malaysia):

   1. 1. Apakah tip-tip untuk PKS dalam menguruskan kewangan perniagaan?
      2. Apakah nasihat kepada PKS untuk menguruskan perniagaan dalam norma baharu?
      3. Apakah yang anda perlu tahu mengenai moratorium secara automatik?
      4. Bagaimana kita harus menghadapi tamatnya tempoh moratorium?
      5. Bagaimana bank boleh membantu anda dalam pelan bayaran balik pinjaman?

2. Consolidated BNM COVID-19 Assistance Information Portal (16 April 2020)
   • BNM has created a consolidated information portal on COVID-19 assistance by the central bank and financial institutions:
     1. Individuals;
     2. SMEs
     3. Corporates

3. Additional Measures to Further Support SMEs and Individuals Affected by the COVID-19 Outbreak (27 March 2020)
   • Enhancements to Financing Facilities to Assist Affected SMEs, Safeguard Jobs and Support Growth
   • Programme to Support the B40 Segment in Generating Sustainable Income and Achieve Financial Resilience (iTEKAD)
   • Relief measures for affected policyholders and takaful participants
     • Deferment of payment of life insurance premiums and family takaful contributions
     • Extension of flexibilities to reinstate or preserve life insurance and family takaful protection
     • Flexibility to meet general insurance premiums and general takaful contributions
     • Expedited claims processing
     • Additional Regulatory and Supervisory Measures
     • Details of the measures as stated here.

4. Measures to Assist Individuals, SMEs and Corporates Affected by COVID-19 (25 March 2020)
   • Deferment and restructuring of loans/financing facilities
     • Loans/financing to individuals and SMEs: Deferment of all loan/financing repayments for a period of 6 months, with effect from 1 April 2020 and conversion of credit card payments into a 3-year term loan with reduced interest rates.
     • Loans/financing to corporations: Allow corporation to defer/restructure their loans/financing repayment in a way that will enable viable corporations to preserve jobs and swiftly resume economic activities when conditions improve.
   • Liquidity conditions in Banking system
     • Supply daily ringgit liquidity to banks
     • Reduction in Statutory Reserve Requirement ratio by 100 basis points
   • Other supervisory and prudential services
   • Details of the measures as stated here.

Refer here for FAQ.