SINGAPORE: A number of Malaysia firms have announced plans for mega initial public
offerings.
These mega listings may well help
Bursa Malaysia cement its position as Asia's top IPO destination this year.
Despite having less listings in
the first half of 2012, Bursa Malaysia saw a total of US$3.5 billion raised,
some three times more than the US$863 million raised in the same period last
year.
After hosting two of the world's
biggest listings this year, Felda Global Venture Holdings and the Integrated
Healthcare Holdings, the Malaysian bourse looks set to see more billion dollar
IPOs debut this year.
State investment company,
1Malaysia Development is exploring plans to list its power assets.
While, Malakoff - Malaysia's
largest independent power producer could be seeking an IPO as well.
The owner of Kuala Lumpur's
iconic Petronas Twin towers KLCC Property Holdings, is also in talks to list
their some of its prized assets via a real estate investment trust.
Associate Professor of Finance
from Singapore Management University, Annie Koh, said: "Asia has quite a
lot of self-contained consumption investment drivers and I think from a
financial point of view, the Bursa is in a prime position right now to say why
don't you let us have some of our jewels to be listed. Therefore, it is a great
opportunity for Malaysia to brand itself. It is a great opportunity for
Malaysia to say look we carried some of the big IPOs in the downtime and this
could be the place for you to consider listing your company."
Year-to-date, Kuala Lumpur has
already overtaken other traditional IPO capitals such as Singapore and Hong
Kong in terms of funds raised.
Experts said Malaysia's equity
market has been well insulated from the global slowdown, given strong support
by local investors and a large domestic pension fund.
Vice President of Business &
Financial Services at Frost & Sullivan Sanjay Singh said: "It's a bit
of defensive as well potential for growth, so it does have the potential for
growth for cornerstone investors because they are making large bets."
Still, investors may now be
spoilt for choice.
Senior investment manager at
Aberdeen Asset Management Christopher Wong said: "There is an element of
indigestion and I guess to a certain extent you are going to be very selective
in terms on which IPOs you want to participate in."
Experts said Malaysia's sovereign
wealth fund Khazanah also plays a significant role in nurturing some of its
investments to be ready for listing, many of which include prized
infrastructure assets involving national interest.
- CNA/ck
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