NAREIT submitted comments to Malaysian Securities Commission on Sept. 13 regarding proposed improvements to the Malaysian REIT (MA-REIT) rules.
In July, the Malaysian Securities Commission issued the proposed changes in an effort to facilitate growth by expanding the scope of permitted activities that can be undertaken by MA-REITs, enhancing governance requirements and improving efficiency through streamlining of post-listing requirements for listed MA-REITs.
NAREIT noted in its comments that “it would be preferable for the [Securities Commission] not to impose certain specific regulatory requirements relating to development and leverage limits,” which had been suggested. Instead, NAREIT encouraged the Malaysian government “to let market forces guide the development of Malaysia’s REIT industry, especially with regard to self-managed companies.”
(Contact: Dara Bernstein at dbernstein@nareit.com)