Bursa Malaysia / NSRF
Bursa Malaysia Main/ACE Market Listing Requirements — National Sustainability Reporting Framework
Topic : ESG disclosure · Level : Stock exchange
Today
IFRS S1/S2 mandatory: Main Market ≥RM2bn from FY2025, other Main Market from FY2026, ACE Market from FY2027.
Summary
Malaysia's NSRF adopts IFRS S1/S2. Bursa made them mandatory in its Listing Requirements: large Main Market issuers (≥RM2bn market cap) from FY2025, other Main Market from FY2026, ACE Market and large non-listed firms from 2027. Climate-first and Scope 3 reliefs apply.
Who is concerned
- Turnover
- Large non-listed: revenue ≥RM2bn (from 2027)
- Employees
- non précisé
- Listed company
- cotées et non cotées
- Sectors
- All sectors
- Triggering activities
- Main or ACE Market listing
- Market cap ≥RM2bn: first phase
- Non-listed with revenue ≥RM2bn
- Extraterritorial reach
- No
Scope 3 due after a 2-year relief (Group 1 from FY2027); value-chain data requests then reach overseas suppliers.
- Examples
- Malaysian glove maker sourcing Chinese inputs
- Main Market electronics firm (E&E)
- Palm oil group listed on Bursa
What the law requires
- Prepare the Sustainability Statement under IFRS S1 and S2 per phase
- Report 3 years of rolling metrics in Bursa's prescribed format
- Report Scope 3 after the 2-year relief (Group 1 from FY2027)
- Obtain reasonable assurance on Scope 1-2 (Group 1 from FY2028, ISSA 5000)
Penalties
Bursa may reprimand, fine, suspend or delist issuers and fine directors; e.g. Serba Dinamik directors fined RM350k-RM1.4m (Dec 2023).
What this changes for a supplier in China
Group 1 issuers report Scope 3 from FY2027. Chinese suppliers to Malaysian E&E and manufacturing groups should expect carbon data requests from 2026-27.
Expected evidence
- Scope 1-2 GHG inventory
- Energy consumption data
- Climate risk information for key sites
Tiers : Tier 1