IFC assisting YSX listed-firms implement enhanced information disclosure
IFC assisting YSX listed-firms implement enhanced information disclosure
The International Finance Corporation (IFC) is working in cooperation with the Myanmar government to educate public companies intending to list on the Yangon Stock Exchange (YSX) on transparency and disclosure standards in company reporting. According to the IFC, the standard and quality of information disclosure is fundamental to attracting foreign direct investment. The IFC urged Myanmar companies to disclose both financial and non-financial information in a timely manner to improve their access to finance, and advised them to be mindful of international standards for disclosure requirements. The IFC further advised that material information should be disseminated in a timely way to the public without omission and cautioned information should not be misleading should not be misleading. According to the IFC, companies should insure investors they will be able to access their disclosure documents online together with all other relevant company information preferably in English. The IFC has encouraged investors, banks and regulators should refer to the IFC’s soon to be available toolkit “Beyond the Balance Sheet”, for transparency and disclosure guidance. The toolkit is designed to guide companies in emerging markets like Myanmar to prepare for comprehensive and best-in-class annual reports. Read more…