Requirements to become an issuer on FUSANG Exchange Private Fixed Income Board
- Minimum net assets requirement of at least USD5 million prior to listing.*
- The conditions prescribed under the first bullet point above shall be maintained until the bond maturity date.
2. Financial position & liquidity
- Minimum 1-year operating track record.*
- Recognized Independent Auditors: No negative Going Concern opinion.*
- Cash Flow projection in alignment to the bond duration.**
3. Minimum issuance Size
- USD 5 million.
1. Type of Issuer
- A corporation incorporated under laws of any recognized country or jurisdiction.
2. Management capability
- Management experience and capabilities on the average experience of 5 years in the relevant industry before the submission date.
3. Moratorium on Bonds
4. Transaction with Related Parties (Directors, Senior Management, Companies exceeding 20%)
- Full disclosure of related parties’ transactions.
5. Credit Rating
- Risk disclosure disclaimer is required for all size of issuance.
6. Currency of bond issue
- MYR is restricted.
7. Additional Requirements for bond issuers
- Post notification to LFSA by Fusang within 30 calendar days after the Private issuance
- Annual audited financial statements and valuation report preceding 1 year from the listing date.*
- Does not require paying agent.
- MUST appoint a licensed trustee or custodian (service provider) that registered under any jurisdiction.
- The utilization of proceeds must be clearly illustrated in the prospectus.
8. Type of Investors
* Applicable to new issuer or guarantor only
** Applicable to new issuer only