Company Profile > Corporate Disclosure Policy

1. Purpose

The Corporate Disclosure Policy of CYL Corporation Bhd (the “Company”) and its subsidiary (the “Group”) sets out the requirements for disclosure including the quality of disclosure to provide shareholders and investors with comprehensive, accurate and quality information on a timely basis. The objective of the Company’s Corporate Disclosure Policy is to have in place an efficient procedure for management of information which promotes accountability for the disclosure and dissemination of material information to the investing public and in turn build good investor relations with the investing public.

2. Scope

The Corporate Disclosure Policy of the Company sets out when disclosure is required by the Company.

2.1 Immediate Disclosure of Material Information

   2.1.1 The Company must announce immediately any material information.

   2.1.2 The Company must announce immediately the occurrence of events prescribed under the Listing Requirements.

   2.1.3 The Company must announce immediately transactions which trigger the prescribed materiality threshold.

   2.1.4 The Company must announce its quarterly financial statement and annual reports.

2.2 Contents of Announcement or Circulars

   2.2.1 The Company must emphasize substance over form when disclosing announcement or circulars.

   2.2.2 The Company aims at ensuring the investing public has a good understanding of information disclosed.

   2.2.3 The Company must disclose the contribution to group’s net profit in a disposal transaction including the intended application of sale proceeds.

   2.2.4 Contents in Circulars must be factual, clear and not lengthy to facilitate easy understanding.

2.3 Maintaining Confidentiality of Information

   2.3.1 The Company will withhold or delay disclosure of material information temporarily where disclosure would prejudice the ability of the Company to pursue its corporate objectives.

   2.3.2 If material information is being withheld the Company must ensure that confidentiality is maintained to minimize information leakage.

   2.3.3 Persons involved in the confidential transactions or in possession of price sensitive information shall ensure strict confidentiality.

   2.3.4 In case of leakage of confidential information, the Company must undertake an enquiry to ascertain the leakage and take appropriate steps to announce to Bursa Securities.

2.4 Clarification, Confirmation or Denial of Rumours or Reports.

   2.4.1 Whenever the Company becomes aware of a rumour or report that contains material information, the Company will make due inquiry and immediately clarify, confirm or deny such rumour or inform Bursa Securities accordingly.

2.5 Unusual Market Activity

   Where there is unusual trading activity or price movement in the Company’s shares, the Company must upon query from Bursa Securities undertake due enquiry to determine the cause and issue a clarifying announcement.

2.6 Equal Access to Material Information

   2.6.1 The Company can provide any information to journalists, analysts and fund managers as long as it does not include any undisclosed material information.

   2.6.2 The Company must immediately announce to Bursa Securities any non-public material information which has been inadvertently disclosed when responding to question from journalists, analysts or fund manager.

   2.6.3 The Company will disseminate information through its website to shareholders and to enhance investor relations. The website includes details of email address, name of designated person, contact numbers to enable public to forward queries.

3. Other Disclosure.

3.1 Profit Guidance

Where there is material improvement or deterioration in the Company’s financial results, the Company will assess the impact and immediately provide a profit guidance statement on the likely impact.

3.2 Fraud/Financial Irregularity

Where there is a fraud or financial irregularity taking place, the Company will assess the materiality of the irregularity and announce it immediately if the irregularity is material to the Company. The Company will notify public the financial and operation impacts of the said irregularity to the Company and the action taken by the Company to address it in the announcement.

3.3 Announcement by External Parties/Authorities

The Company will immediately announce to Bursa Securities any announcement by a government ministry or agency regarding a government policy which is material to the Company including the business and financial impact.

3.4 Disclosing Purpose and Utilization of a General Mandate

The Company may procure a general mandate from its shareholders at a general meeting to issue shares in accordance with section 132D of the Companies Act 1965 and the requirements under the Listing Requirements.

3.5 Quality of Financial Disclosure and Timely Disclosure

The Board is responsible for the preparation of timely and reliable financial statement and represents a true and fair view of the statement of affair of the Company.
To facilitate easy reference, the Company discloses in its annual report, financial highlight of major items for the last 5 years.

This Policy is approved by the Board of Directors on 24 June 2013.