KUALA LUMPUR (Nov 29, 2011): Bursa Malaysia Bhd has launched a practical guide to assist small and medium enterprises (SMEs) in their listing process in its efforts to attract good and healthy stocks to increase the vibrancy of the market, said its CEO Datuk Tajuddin Atan.
He said the Malaysian stock market offers a good breadth of quality stocks and remains resilient in providing the platform for matching capital seekers with capital providers, despite the market volatility in recent months which were due to external factors.
To date, 946 companies have been listed on the exchange. This year, 27 companies were listed, raising a total of RM6 billion, Tajuddin told reporters after the launch of “Practical Guide to Listing on Bursa Malaysia” today.
“We are trying to achieve higher numbers but I cannot share with you the target. The trend is healthy,” he said, adding that there were a lot of applications with some already approved and their listing only a matter of time.
He said the exchange has been playing a very active role in managing the market to attract good and healthy stocks.
“For a company going public, it is not only a very important decision but also a major turning point in its development process. With this in mind, Bursa Malaysia has developed the guide with input from some of the key advisers experienced in bringing companies to the market,” he said.
Tajuddin said the guide provides a practical outline of the listing process and an insight into life as a public company.
It provides the full spectrum of what it takes to be a public company and the expectations that come from being listed, he added.
Tajuddin said a key challenge that companies face is the mindset change of being a public company from being a privately held one.
Meanwhile, SME Corp Malaysia CEO Datuk Hafsah Hashim said the corporation has been working with Bursa Malaysia to assist and guide SMEs in their listing.
“Ninety-nine per cent of business establishments in Malaysia are SMEs. We want the SMEs to grow outstandingly different, because we cannot go on the organic growth (route). We want them to leapfrog and grow extraordinarily. Better way for SMEs to raise funds is through listing,” she said.
SME Corp is targeting to have 15% of the 500 SMEs in the Enterprise 50 list floated by 2015. To date, 56 of them have been listed.
Enterprise 50 is an annual award programme started in 1996 and organised by SME Corp.
“We have been doing this programme for the past 15 years on how to position the companies in terms of audited accounts, utilisation of information technology and technology,” Hafsah added.