Bursa Malaysia Reprimands Solar District Cooling For Breeching Listing Rule

KUALA LUMPUR, Nov 11 (Bernama) -- Bursa Malaysia Securities Bhd has publicly reprimanded Solar District Cooling Group Bhd (SDCG) for breaching Rule 3.10(1) of the Bursa Malaysia Securities ACE Market Listing Requirements (ACE LR), where its public shareholding spread (PSS) was only 24.75 per cent at the point of the group’s listing on the ACE Market on Sept 19, 2025. 

In a statement today, Bursa Malaysia highlighted that the ACE LR states that an applicant seeking admission to the official list must have at least 25 per cent of the total number of shares for which listing is sought in the hands of a minimum number of 200 public shareholders holding not less than 100 shares each.  

“Bursa Malaysia views the breach seriously as the PSS Requirement was fundamental to ensure there was sufficient market liquidity and free float towards facilitating an orderly and fair trading of the shares. 

“While Bursa Malaysia had not found any of SDCG’s directors to have caused or permitted the breach by the company, it has reminded the group and its board of directors of their responsibility to maintain appropriate standards of corporate responsibility and accountability to its shareholders and the investing public and ensure compliance with the ACE LR,” it said.

-- BERNAMA