NEW IPOS TO BOOST TRAD­ING VE­LOC­ITY

Eco World’s list­ing on Mon­day set to be one of ma­jor high­lights this year

New Straits Times - - Business -

THE po­ten­tial ini­tial pub­lic of­fer­ings (IPOs) this year would likely drive Bursa Malaysia’s trad­ing ve­loc­ity higher than the 27 per cent achieved last year.

Bursa Malaysia Bhd chief ex­ec­u­tive of­fi­cer Datuk Seri Tajuddin Atan said Eco World In­ter­na­tional Bhd’s list­ing on Mon­day would be one of the ma­jor high­lights this year, given its large mar­ket cap­i­tal­i­sa­tion.

“Fur­ther­more, we hear the Se­cu­ri­ties Com­mis­sion has ap­proved the list­ing of two more IPOs, on the Main Mar­ket and ACE Mar­ket, re­spec­tively.

“These list­ings would be enough to get the mar­ket ex­cited,” he said af­ter Bursa Malaysia’s an­nual gen­eral meet­ing, here, yes­ter­day.

So far this year, HLT Global Bhd, Matang Bhd, KIP Real Es­tate In­vest­ment Trust and Serba Di­namik Hold­ings Bhd have been listed.

Col­lec­tively, these four list­ings have a mar­ket cap­i­tal­i­sa­tion of about RM2.84 bil­lion, which is al­most equal to that of Eco World In­ter­na­tional.

Tajuddin said cur­rently, the trad­ing mo­men­tum in the lo­cal stock mar­ket was very good, with about RM4.7 bil­lion in for­eign fund in­flow to-date.

He said from March 13 to 17 there was a fan­tas­tic for­eign fund in­flow of around RM1.7 bil­lion in that week alone.

On top of the at­trac­tive IPOs and the ring­git’s strength, he said in­vestors were en­ter­ing the mar­ket for the strong div­i­dend yield play within the Bursa mar­ket­place. Bernama

Trad­ing mo­men­tum on Bursa Malaysia has been good, with about RM4.7 bil­lion in for­eign fund in­flow to-date.

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