BURSA STILL ATTRACTIVE FOR LISTING
Planned IPOs by big players boost local stock exchange’s allure, says CEO
BURSA Malaysia is still an attractive destination for listing, spurred by initial public offering (IPO) plans by big companies.
Its chief executive officer Datuk Seri Tajuddin Atan said Lotte Chemical Titan Holding Bhd’s imminent listing and an IPO plan by Edra Power Holdings Sdn Bhd would add to the local stock market’s allure.
“This year’s IPO market seems to be performing much better. I’m quite positive and excited to see the numbers of not only the IPOs but also the secondary listings,” he said on the sidelines of Kenanga Investment Bank Bhd’s third season of KenTrade Trading Challenge, here, yesterday.
Tajuddin’s optimism is in the light of more IPOs coming out this year.
“Last year, the market was a bit slow. This year, sentiment is stronger and the fundamentals, (such as) gross domestic product (GDP) announced by Bank Negara (Malaysia), were much better... and the confidence is coming back,” he said.
Tajuddin pointed out that this year not only the stock market performance was improving, the ringgit was also doing better than any other currencies in the region.
“The companies who delayed their IPOs last year are coming back this year, followed by new ones.
“Most importantly, you will see when the sentiment is good, the performance is also improving,” he said.
He added that the number of foreign investments in the first half this year was the highest in a long time, spurred by diversified investments.