Malaysia may let foreign companies use IFRSs

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16 Sep 2004

The government of Malaysia is considering an amendment to the Financial Reporting Act that would allow foreign companies traded on Bursa Malaysia – the Malaysian stock exchange – to use IFRSs by year-end.

Domestic companies would continue to use the standards set by the Malaysian Accounting Standards Board. Currently, approximately 930 companies are listed on Bursa Malaysia, of which four are foreign.

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