KLSE: Firms misconceive role of Mesdaq market


BY SIOW YUEN CHING in Penang

MANY companies still have the misconception that the Mesdaq market is for small technology companies and functions as a third board or a short cut to the KLSE second board and main board, KLSE executive chairman Datuk Mohd Azlan Hashim said. 

“Mesdaq caters to the fund raising needs of technology companies in high-growth sectors and provides a strategic opportunity for issuers to raise the required capital at an early stage of their growth and development. 

“Although the minimum issued and paid-up capital required for listing on Mesdaq is RM2mil, there is no ceiling to the issued and paid-up capital requirement,” he told reporters at a seminar on Going Public on the Mesdaq Market in Penang yesterday. 

Datuk Mohd Azlan Hashim presenting a souvenir to Tan Sri Dr Koh Tsu Khoon.

Over 200 representatives of high growth and technology companies in the northern region attended the seminar, organised by the KLSE. 

Azlan said Mesdaq was able to cater to large companies, in terms of capital size, including those that qualify for KLSE main board or second board. 

He added that technology companies did not only consist of those using technology but also developers of technology with the technical capabilities to research and develop new technology, processes or equipment. 

“This includes a broad spectrum of companies that commit substantially to research and development (R&D), those with intellectual property, own new technology, build brands with niche markets, substantial exports in non-traditional areas and those with substantial foreign earnings.  

In short, companies that contribute significantly to national development in technology,” he added. 

High growth companies in both the technology or non-technology areas, Azlan said, were those that have an outstanding business model, a unique product, a diversified market and client base for the products. 

“High growth companies are those that have a high degree of potential to grow and expand,” he added. 

Azlan also said Mesdaq should not be viewed as a short cut to the KLSE because its listing requirements were different. 

At present, he said, there were 16 companies listed on the Mesdaq and eight more have already been approved. 

Mesdaq was targeting 50 listings by the end of the year. 

On another matter, Azlan said the KLSE's progressive move to standardise the size of a board lot of securities to 100 units in the second quarter this year, would begin with the companies listed on the second board. 

He added, however, that details of the implementation plan would be announced later. 

Earlier, in his speech, Azlan said the seminar was held in Penang to capitalise on the culture of business innovation and entrepreneurial activity that had been driving the state's economic growth. 

“To date, out of the 873 companies listed on the KLSE, 37 companies on the main board, 42 on the second board and 2 on Mesdaq are based in Penang,” he said.  

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Next In Business News

CPO futures close lower for second day
Syed Najib steps down as group CEO of Pos Malaysia
Azman Ahmad appointed OIC of FGV
Ringgit slips against greenback to end at 4.1160
New counter operating hours at EPF offices nationwide
Bursa closes broadly lower as 980 stocks in the red
Public Bank records 1Q net profit of RM1.53bil
MARC assigns stable outlook for Serba Dinamik’s RM1.5b debt papers
Moody’s changes outlook for global aviation industry to positive
Philippines joins Asean Collective Investment Schemes Framework

Stories You'll Enjoy


Vouchers