Eligibility, roles and responsibilities of a Sponsor
4.4
Pursuant to Rule 4.09(a) of the ACE LR, a Sponsor must among others, maintain regular contact with the Sponsored Corporation, including being available at all times to advise and guide the Sponsored Corporation. Does this mean that the Sponsor must assign or station an officer in the Sponsored Corporation’s office at all times?
Bursa Securities does not prescribe the manner in which a Sponsor must undertake this duty. As long as the Sponsor is available to advise and guide the Sponsored Corporation and its directors as prescribed under the ACE LR, the Sponsor is considered to have fulfilled its duty.