Companies must continue to comply with quarterly reporting requirements, says SC

KUALA LUMPUR: Listed companies must continue to comply with existing quarterly reporting requirements even though the practice of quarterly reporting will be reviewed in line with various proposals to improve disclosure and transparency under the newly announced Corporate Governance Blueprint 2011, according to the Securities Commission.

In a statement Thursday, July 14, the SC said financial reporting served as a valuable tool in providing investors with information to assist them in making investment decisions.

As there are varying views on the appropriate frequency for such reports, practices differ from jurisdiction to jurisdiction, it said.

“These will therefore be the focus of discussions and the consultation process on this issue following the release of the Blueprint.

“However even as the SC undertakes its review, it wishes to remind companies that they are expected to continue observing high standards of disclosure at all times,” it said.

The SC said companies must ensure that all disclosures to the public are accurate, and a truthful record of the facts, as this is a legal requirement.