ACMF FACILITATES CROSS BORDER FUND RAISING AND INVESTMENTS
ACMF IMPLEMENTS STREAMLINED REVIEW FRAMEWORK FOR COMMON PROSPECTUS
The ASEAN Capital Markets Forum (ACMF) announced today that the Securities Commission Malaysia (SC), the Monetary Authority of Singapore (MAS), the Securities and Exchange Commission (SEC), Thailand and the Singapore Exchange (SGX) have established the Streamlined Review Framework for the ASEAN Common Prospectus (the “Framework”), pursuant to a Memorandum of Understanding (MoU) signed on 3 March 2015.
The establishment of the Framework coincides with the 23rd ACMF meeting in Kuala Lumpur hostedby the SC, the current Chair of ACMF.
The Framework, an initiative under the ACMF Implementation Plan endorsed by the ASEAN Finance Ministers, enhances ASEAN’s attractiveness as a fund-raising centre. Under the Framework, issuers planning to offer or list equity or plain debt securities can expect a shorter time-to-market and faster access to capital across signatory countries through a streamlined review process.
In conjunction with the implementation of the Framework, a handbook has been issued which provides guidance on the various administrative and procedural matters, including the criteria for issuers to come under the Framework, the application procedures and the review timeline.
The handbook can be accessed here.
The ACMF was set up in 2004 to promote freer flow of capital and greater connectivity of ASEAN capital markets. Other key initiatives under ACMF include the ASEAN Trading Link among regional exchanges; the framework for Expedited Entry of Secondary Listings to allow for faster time-to market for corporates seeking secondary listings; and the ASEAN Disclosure Standards to facilitate multi-jurisdiction offerings of equity and plain debt. The ACMF has also worked to profile ASEAN as an asset class through the ASEAN Corporate Governance Scorecard, which has elevated the visibility of well governed ASEAN PLCs to the international investing community.
More information on the ACMF Implementation Plan and the ASEAN Economic Community Blueprint 2015 can be found at the ACMF website www.theacmf.org & www.asean.org.
Click here to Download File