KUALA LUMPUR: BURSA MALAYSIA BHD chief executive officer (CEO) Datuk Muhamad Umar Swift expects 40 new listings to take place next year, including 30 for small and medium-sized companies (SMEs).Muhamad Umar said the expectations are based on the country’s strong fundamentals, coupled with the global uncertainties which are anticipated to be resolved moving forward.
“We would like to see more Malaysian companies take advantage of the certainty that is expected to come forward, ” he told reporters after delivering his speech at the “Listing on Bursa: Unlock Your Business Potential through Listing” forum here yesterday. Muhamad Umar added that the tax deduction of up to RM1.5mil for eligible SMEs on the Ace Market or Leap Market under the Budget 2020 would also encourage listing exercises on the local board.
Earlier in his speech, he said as at Nov 8,2019, the exchange had welcomed 28 new listings, surpassing the 21 new listings in 2018.
“Bursa Malaysia also ranked the second in ASEAN for equity funds raised, market capitalisation and number of initial public offerings (IPOs) as at September 2019, ” he said.
Home to more than 900 companies across 60 economic activities, Bursa Malaysia is the largest bourse in ASEAN in terms of number of companies listed, he noted.
Co-organised by the Malaysian Investment Development Authority (Mida) and Bursa Malaysia, the one-day forum aims to encourage local companies with excellent track record to list their companies on Bursa Malaysia in order to spur more private sector-led domestic investment growth within the country.
Meanwhile, Mida CEO Datuk Azman Mahmud said Mida, through its Investment Coordination Platform (ICP) unit, would continue to work closely with equity and corporate advisory firms as well as local regulators and technology providers to facilitate companies that plan to expand their businesses and attract investments.
“The team has so far assisted more than 200 companies in the manufacturing, services and primary sectors, in conducting business-to-business matching, as well as capital raising through debt and equity, mergers and acquisitions, divestments and IPOs, ” he said.
During the event, the Malaysia Industrial Park Directory was also launched. — Bernama