KUCHING: Public listings from Sarawak and Sabah are picking up pace, with Bursa Malaysia confident the momentum will not only continue but strengthen in the years ahead.
Bursa Malaysia Listing Development’s Executive Vice-President, Lee Kuan Teck, noted that Sarawak in particular is seeing stronger attention from banks and entrepreneurs, with Affin Bank re-establishing a presence in the state and more local companies exploring Bursa as a way to raise funds.
He said knowledge sharing has been a major factor.
“The momentum for these companies to go for listing comes from knowledge and awareness.
“Entrepreneurs now understand that raising funds from the public market is a real option, and that awareness has been created,” he said.
He said this during the ‘From Experience to Insight: A Problem-Solving Forum’ panel session at IPO Readiness and Tax Insights Conference held at Riverside Majestic Hotel here today.
He pointed to Sabah’s recent activity.
“In the last two years, Sabah recorded four listings last year and one so far this year,” he said.
Lee added that East Malaysian companies had been underserved for years as banks scaled back operations.
“These companies were underserved for quite some time. Previously, there were investment banks stationed in East Malaysia, but over the years some changed their strategy and moved their branches back to Peninsular Malaysia,” he said.
That trend, he added, has now reversed.
“The focus has returned to East Malaysia. Affin Bank is back in Sarawak, and many other banks are engaging companies in Sarawak and Sabah about listing. The momentum will continue,” Lee stressed.
According to him, interest is rising quickly.
“We have been meeting many companies from Sarawak and Sabah, and interest is building up fast.
“It will not only continue but get even better, with more East Malaysian companies expected to list in the next few years,” he said.
