” The Securities and Exchange Commission of Myanmar (“SEC”) has reminded the YSX companies of their obligations to submit their annual financial reports within three months of the end of their financial year. In Myanmar, the financial year starts from the 1st of April and ends on the 31st of March.”
According to Section 71 (b) of the Securities Exchange Law (“SEL”), listed companies on the YSX must submit the following documents to the SEC no later than three months after the end of the financial year:
(1) Annual financial report;
(2) cash flow, balance-sheet and profit and loss accounts of the financial year
approved by the board of directors;
(3) auditor’s report; and
(4) material particulars which must be contained in the prospectus of the listed company under sub-section 9(b) of the Section 35 of SEL.
The financial report as approved by the annual general meeting of the shareholders must also be submitted to the SEC within six months after the end of the financial year.
At present, only three companies are listed on the YSX, which was officially opened in December 2015, as follows:
(i) First Myanmar Investment;
(ii) Myanmar Thilawa Special Economic Zone Public Holding Ltd; and
(iii) Myanmar Citizens Bank.
PLF Law Firm