Bursa Malaysia Securities Berhad issued a Management Discussion & Analysis Disclosure Guide (MD&A), to guide and assists public listed companies in the preparation and presentation of their MD&A disclosures, in a clear and meaningful manner with emphasis on quality and relevant material information.
Bursa Malaysia Chief Executive Officer Datuk Seri Tajuddin Atan said:
The introduction of the MD&A Guide is part of Bursa Malaysia’s continuous efforts to promote high standards of disclosures among public listed companies. We believe high standards of disclosure can create a strong value proposition to further enhance public listed companies’ investability.
With the MD&A disclosures, the quality of information to the market will be further enhanced to enable shareholders and investors to better assess the listed company’s financial and operational performance, risk exposures, the outlook and expected future performance and other material aspects. This in turn will facilitate better informed investment decisions.
The MD&A Guide was formulated and finalised following Bursa Malaysia’s engagement with various industry groups and stakeholders. It outlines the disclosure requirements and principles as well as the expectations in meeting these requirements and principles, including recommendations as to the MD&A information and practices that listed companies should consider in making the disclosures.
In addition, the MD&A Guide sets out and highlights examples of what are considered to be good disclosures that meet the reasonable expectations of shareholders and investors.