January 12, 2011 13:19 PM

15-20 Foreign Firms Expected To Be Listed On Bursa This Year

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By: Ramjit

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KUALA LUMPUR, Jan 12 (Bernama) — Some 15-20 foreign companies are expected to be listed on Bursa Malaysia this year from three last year, a move that will further internationalise the local bourse.

Deputy Finance Minister, Datuk Donald Lim Siang Chai, said the total number of companies, both local and foreign, to be listed this year would be more than the 29 in 2010.

The three foreign companies listed last year were from China, he said.

He said Bursa Malaysia’s plan to develop an international board to list foreign securities, including syariah-compliant products, as announced in the 2010 budget, would help more foreign firms list here.

“Efforts will also be made to strengthen Malaysia’s position as a premier Islamic capital market,” he said after opening the Initial Public Offering (IPO) conference 2011 here Wednesday.

Lim said the guidelines to facilitate the implementation of the separate board for listing international companies, in which Bursa Malaysia and the Securities Commission were vigorously working on, would be finalised soon.

“We want to provide people with the opportunity to invest in Malaysia,” he said.

Bursa Malaysia, he said, would undertake roadshows to China and Hong Kong to attract bigger-sized companies and those looking for dual listings.

“I will be personally go to China and Hong Kong to get good quality firms to help us grow our equity market as well as facilitate transfer of technology,” he said.

He said Malaysia was rated highly among foreign investors, including from Taiwan, due to its strategic location in South-East Asia and the region’s consumer base in excess of 600 million people as well as political stability.

“We have good transportation and shipping networks, infrastructure as well as peace and political stability,” he said.

Foreign investors, he said, also viewed positively the government’s Economic Transformation Plan, especially the projects to develop a mass rapid transit system and extension of the light rail transit networks, which would increase business and investment opportunities.

“Another plus point is Malaysia’s good track record with strong government backing as well by regulatory authorities such as Bursa Malaysia, Securities Commission and Bank Negara to protect foreign investors,” he said.

He said the market this year hoped to raise more than the RM19.8 billion through IPOs raised in 2011.

— BERNAMA

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