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Creating Opportunities, Growing Value CREATING OPPORTUNITIES, GROWING VALUE Integrated Annual Report 2019 Bursa Malaysia Integrated Annual Report 2019 VISION: TO BE ASEAN’S LEADING, RESPONSIBLE AND GLOBALLY-CONNECTED MARKETPLACE MISSION: • We provide easy access to diversified, impactful products and services for global CREATING market participants • We are a High-Performance Organisation OPPORTUNITIES, with a data-driven culture, fuelled by GROWING VALUE innovation and technology, and powered by strategic partnerships • We foster sustainable development in the The minimalist cover design for our marketplace by promoting responsible growth Integrated Annual Report 2019 is while facilitating fundraising, value and wealth intended to convey a sense of clarity of creation for all purpose and focus for Bursa Malaysia. It is also to showcase our iconic building OUR CORE VALUES at Bukit Kewangan which is situated in the Central Business District of the Building Relationships Kuala Lumpur City Centre. The rendition We work together with partners in symbolises stability, longevity, continuity the industry and community to for the Malaysian capital market and deliver mutually beneficial outcomes strengths that we continue to drive United to Achieve towards our aspirations of always We work hand-in-hand as a team to build a High-Performance Organisation “Creating Opportunities, Growing Value”. focused on achieving our goals Responsibility We are accountable, as an individual and organisation, for the outcomes of our conduct and actions Simplicity We simplify processes and structures and encourage innovation to deliver timely and transformative results Agility We adapt to evolving market and operating conditions to achieve our targets TABLE OF CONTENTS Delivering Value to Stakeholders 03 Management Discussion and Analysis • Financial Review 53 About This Report • Securities Market 55 Reporting Principles & Framework 02 • Derivatives Market 63 Scope and Boundaries 02 • Islamic Capital Market 68 Continuing Our Integrated Reporting Journey 02 • Towards Operational Excellence 72 Material Matters 02 Who Leads Us 76 Forward-Looking Statement and Disclaimer 02 Key Senior Management 78 Reporting Structure & Navigation 03 Approval by the Board 03 Our Governance 04 Positioned Who Governs Us 80 For Value Creation 01 Corporate Structure 86 Who We Are 05 Other Corporate Information 87 Our Performance 07 Corporate Governance Overview 88 Our Value Creation Model 08 Marketplace Report: Fair and Orderly Markets 96 Overall Market Performance 12 Statement on Internal Control Market Highlights 14 and Risk Management 102 Corporate Events and News 16 Audit Committee Report 112 Peer Comparison 18 Financial Calendar 20 Additional Information 05 List of Properties Owned by Creating Value In Bursa Malaysia Group 120 Statistics of Shareholdings 121 A Sustainable Manner 02 Additional Compliance Information Disclosures 133 Chairman’s Statement 22 Chief Executive Officer’s Review 28 Our Strategic Focus 33 Financial 06 Our Operating Context 34 Directors’ Responsibility Statement 135 Our Stakeholders 37 Financial Statements 136 Our Material Matters and Approach to Sustainability 38 Key Risks & Opportunities 46 Appendices 07 Notice of 43rd Annual General Meeting 241 Statement Accompanying Notice of 43rd Annual General Meeting 247 Abbreviation 251 Glossary 252 2 ABOUT THIS REPORT Bursa Malaysia Berhad’s Integrated Annual Report 2019 provides a comprehensive account of how we create value for our stakeholders and the way we manage our material matters. This report has been compiled with information that was relevant and accurate as at the time of publication and provides an overview of our performance for the year under review. It also details our strategic and developmental plans going forward. REPORTING PRINCIPLES & FRAMEWORK CONTINUING OUR INTEGRATED REPORTING JOURNEY Bursa Malaysia Berhad’s (Bursa Malaysia or the As Malaysia’s national stock exchange and frontline regulator, Bursa Malaysia has Exchange) Integrated Annual Report (IAR) complies a responsibility to lead by example. To that end, we have adopted the best-in-class with the Bursa Malaysia Securities Berhad Main in disclosure standards in line with our aspirations of becoming a model Public Market Listing Requirements (MMLR) and takes Listed Company (PLC) while we continue to implement initiatives to drive greater guidance from the International Integrated Reporting disclosure quality and transparency within the Malaysian marketplace. This IAR is Framework (<IR> Framework) issued by the our commitment put into practice. International Integrated Reporting Council (IIRC). This IAR explains the relationship between the resources we use, the actions that Bursa Malaysia’s financial statements for the financial we take and the value that we create for our stakeholders. It also draws closer links year ended 31 December 2019 have been prepared in between our financial and non-financial risks and opportunities to give investors accordance with the following: a clearer view of Bursa Malaysia’s long-term prospects and continued growth potential. Our use of the <IR> Framework also allows stakeholders to make better comparisons in their evaluation of our performance against global peer exchanges • Malaysian Financial Reporting Standards across a range of metrics. • International Financial Reporting Standards • Companies Act 2016 MATERIAL MATTERS Our detailed sustainability reporting can be found In 2019, we embarked on a review of our Material Matters1 via a online survey with in our Sustainability Report 2019, which has been our internal and external stakeholders. As a result, a total of 17 Material Matters prepared in accordance with the Global Reporting were selected and approved by the Board of Directors. These matters are grouped Initiative (GRI) Standards: Core option, MMLR and into five broad Priority Areas, namely: the FTSE4Good Bursa Malaysia Index criteria. This is the third consecutive year where we have incorporated • Enhancing Competitiveness the United Nations’ Sustainable Development Goals • Ensuring Market Integrity and Stability (SDGs) in our approach to sustainability. • Fostering a Responsible Marketplace For more information,please refer to • Leveraging on Technology and Innovation https://www.bursamalaysia.com/about_bursa/ • Building a High-Performance Organisation sustainability/overview SCOPE AND BOUNDARIES These constitute the principal areas that affect or are affected by our value creation activities. This IAR covers the primary activities of Bursa Malaysia, namely our overall performance and the For more information on our Material Matters, refer to pages 38 to 45 delivery of our initiatives towards achieving our goals. In line with the <IR> Framework, this IAR covers FORWARD-LOOKING STATEMENT AND DISCLAIMER both the financial and non-financial performance of Bursa Malaysia and specifies the material matters, This IAR contains forward-looking statements that are subject to risks and opportunities and outcomes for our stakeholders, uncertainties that could cause some variance between actual results and the which may impact how we create value. This expectations communicated by our forward-looking statements. These forward- report covers the period from 1 January 2019 to looking statements should not be construed as guarantees or predictions of Bursa 31 December 2019, unless otherwise stated. Malaysia’s future performance. Readers of this IAR are advised not to place undue reliance on our forward-looking statements. 1 Our Material Matters are defined as those that are of most importance to Bursa Malaysia, based on our significant economic, environmental, and social impacts and which substantively influence the assessments and decisions of our key stakeholders. They are also determined based on how they impact or are impacted by our value creation activities. Under the <IR> Framework, value creation is described in the context of the six forms of capital, which are listed on page 8 BURSA MALAYSIA BERHAD 3 ABOUT THIS REPORT About this Report REPORTING STRUCTURE & NAVIGATION Bursa Malaysia’s 2019 Report provides a comprehensive and accurate account of our value creation activities. Our IAR 2019 provides a holistic account of our financial and non-financial activities. For more information on our sustainability efforts, please refer to our Sustainability Report (SR) 2019 online. Disclosure made and Reporting Framework used for both IAR and SR are summarised below: Integrated Disclosure Reporting Framework Annual Report 2019 • Management Discussion and Analysis • Malaysian Code on Corporate • Financial Review Governance • Our Material Matters and Approach to • Bursa Malaysia Securities Sustainability Berhad Main Market Listing • Corporate Governance Overview Requirements • Audit Committee Report • IIRC <IR> Framework • Statement on Internal Control and Risk • Companies Act 2016 Management • Malaysian Financial Reporting • Directors’ Report Standards • Independent Auditors’ Report • International Financial Reporting • Financial Statements Standards Sustainability Report 2019 Disclosure Reporting Framework • Governance • Bursa Malaysia Securities • Reporting Scope and Boundaries Berhad Main Market Listing • Assessment of Material Matters and Requirements Stakeholder Engagement • GRI Standards • Management Approach of Material • FTSE4Good Bursa Malaysia Sustainability Risks and Opportunities Index criteria APPROVAL BY THE BOARD The Board has applied its collective mind to present Bursa Malaysia’s integrated report, as guided by the <IR>
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