SINCE 2008, the recession which began in the United States has rapidly spread to Asia and affected much of the region. With the prediction that the contraction in Malaysia may not be sharp but long, many companies are worried about the uncertain future which resulted in a drastic decrease in initial public offerings (IPOs) as it could be a risky investment.
The total number of new listings has reduced from 26 in 2007 and 23 in 2008 to only two in 2009. It has been the worst-ever year for IPOs in the Malaysian market so far since 1980, when no companies were listed.
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