SC relaxes minimum landbank rule

Property development companies seeking listing are no longer required to have a minimum landbank of 500 acres (202 ha) under the Securities Commission’s (SC) latest equity guidelines, which come into effect today. The SC said the new and revised guidelines were part of its efforts to create a more competitive capital market environment through the liberalisation of fund-raising requirements and raising standards of advisory and due diligence conduct by market intermediaries. It said these guidelines, which take effect today, were related to the liberalisation policies announced by SC chairman Datuk Zarinah Anwar on Dec 12 last year to facilitate corporate expansion and boost the attractiveness of Malaysia as a preferred listing destination.

(01-02-2008 The Edge)