Paragraph 15.06(1) of the Main LR states that a
director of an applicant or a listed issuer must not hold more than 5
directorships in listed issuers. Does the restriction apply to directorships
held in corporations listed overseas?
No. The restriction
is only applicable to directorships held in listed issuers on Bursa Securities.
Hence, in computing the number of directorships that may be held pursuant to
the restriction, a director should take into account his directorships held in
(which include locally incorporated companies listed on Bursa Securities or
corporations incorporated outside Malaysia but listed on Bursa Securities);
of the collective investment schemes which are listed on Bursa Securities; or
issuers of any other
listed securities on Bursa Securities.