One of the two directors will also need to be appointed as a member of the company’s audit committee, and the company fully complying with the requirements of the securities commission’s equity guidelines.
In separate announcements on the same day, UMS Integration and Grand Venture Technology (SGX:JLB
) say that they have received approval from the Securities Commission Malaysia for the proposed secondary listing on the main market of Bursa Malaysia on March 24.
According to UIMS, the approval was subject to a few conditions, including UMS obtaining shareholders’ approval for the proposed adoption of the new constitution to incorporate provisions relating to the proposed secondary listing, and the company appointing at least two directors whose principal or only place of residence is within Malaysia.
