The Exchange Also Initiates Set Up Of Malaysian Investor Relations Association (MIRA)

Bursa Malaysia has taken an initiative towards enhancing investor relations (IR) practice amongst public listed companies (PLCs) through its newly launched Investor Relations (IR) Manual. The IR Manual aims to guide PLCs in crafting IR programmes which will aid them in keeping the investment community informed of their business activities.

Dato' Yusli Mohamed Yusoff, Chief Executive Officer of Bursa Malaysia said, "As a regulator, we want to be a catalyst towards the development of the practice of good IR amongst PLCs.  As we move towards an environment which demands greater disclosure and corporate accountability, it is imperative that PLCs know how to manage expectations. I believe that PLCs will benefit immensely from this IR Manual and realise the importance of developing an effective IR programme as a means to strengthen the company's reputation and achieve fair market valuation. Investors are spoilt for choice and if companies do not convey their investment potential on an ongoing basis via IR, they will not be on the radar screen of investors."

Dato' Yusli added that PLCs need to realise that disclosure should not only be for the purpose of complying with regulatory requirements, but also to meet growing needs of investors seeking reliable information in their search for quality investments. "Bursa Malaysia's IR Manual for the PLCs very much demonstrates how we strive to encourage PLCs to voluntarily provide stakeholders and shareholders with timely and transparent information beyond what is required by the Listing Requirements."

Bursa Malaysia also announced the establishment of the Malaysian Investor Relations Association (MIRA), a new professional body that is dedicated to spearheading the development of IR in Malaysia.  MIRA is the first association of its kind in the country. 

Dato' Yusli said, "The market practice of IR has been encouraging and this reflects a priority for keeping shareholders informed. With this mind, MIRA is initiating programmes to conduct workshops, seminars and networking sessions that will help advance the standards of IR in Malaysia. In addition, MIRA will provide online advisory and consultancy support on IR related matters exclusively for PLCs. Plans are already under way to conduct an IR Officer certification programme. In short, MIRA will be the first port of call and a common voice on all IR related matters."

MIRA is funded by the Capital Market Development Fund (CMDF). Bursa Malaysia is the founding member for MIRA while the inaugural members consist of industry representatives.  Membership is free for the first year and is divided into three categories - corporate member (mainly for PLCs), associate member (mainly for IR service providers) and individual member. 

"As a facilitator and founding member, we are optimistic that MIRA will do its part in elevating the level of IR in PLCs into a more strategic role and I would urge all PLCs to be a member of MIRA," concluded Dato' Yusli.

In addition, Bursa Malaysia will also manage an IR Incentive Programme (IRIP), where selected companies will be provided with IR advisory in establishing an IR function and content. Companies will also be provided with an IR portal which includes conceptualising, designing, hosting and maintaining an IR website integrated with the company's corporate website and the provision of webcast. The cost of IRIP is borne by the Capital Market Development Fund (CMDF) and companies need only comply with minimal conditions for participation. Participants of IRIP will also see their information disseminated via the online media which includes MalaysiaPLC.com, a portal initiated by Bursa Malaysia as the national IR portal in collaboration with ShareInvestor.com Holding Pte Ltd). The information from IRIP will be disseminated through CNBCAsia.com.

The IR Manual, which outlines a framework for Investor Relations practice, is posted on Bursa Malaysia's website (www.bursamalaysia.com).  More information on MIRA can be obtained at www.mira.com.my.