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KLSE plan to demutualise faces delay, BUSINESS TIMES
Business Times (Malaysia), July, 2003 by Cheah Chor Sooi
Business Times (Malaysia) 07-19-2003 THE Kuala Lumpur Stock Exchange (KLSE) demutualisation will be delayed, and may not be able to meet its earlier target of listing the exchange by end of the year. KLSE executive chairman Datuk Mohd Azlan Hashim said the listing is now expected to take place in the first quarter of 2004.
The delay, he said, is because the KLSE Demutualisation Bill is only scheduled for second reading in the Parliament in September. The Bill was tabled for first reading last June, but the short parliamentary session of only eight days prevented it from getting a second reading. This will be followed by a debate on the Bill before it is passed by the Dewan Rakyat. It will then be tabled in the Dewan Negara prior to being gazetted....
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