Bursa expects 40 new listings next year

Umar: We would like to see more Malaysian companies take advantage of the certainty that is expected to come forward.

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.