More than 300 private companies entitled to be listed on main road
Bernama
Mei 11, 2017 09:28 MYT
Mei 11, 2017 09:28 MYT
More than 300 private companies in Malaysia have been identified as having met the prerequisite for listing on Bursa Malaysia's Main Board.
More than 300 private companies in Malaysia have been identified as having met the prerequisite for listing on Bursa Malaysia's Main Board, Deputy International Trade and Industry Minister Datuk Ahmad Maslan said.
Based on the Malaysian Investment Development Authority's (Mida) record, these companies which have registered an uninterrupted profit after tax of more than RM20 million for a period of three to five full financial years, had yet to take advantage of listing prospects.
"Collaboration between Mida and Bursa Malaysia is timely to encourage local companies to look beyond depending on the government and growing their own resources towards sustainable growth," he told a press conference on the the sidelines of the "Grow Your Business, List On Bursa" Forum here today.
Earlier, in his keynote address, Ahmad said for entrepreneurs with global ambitions, taking a company public is not just about selling shares, but also a testament to its success and long term viability.
"The process of being listed may require much commitment, but the payoff is surely worth the effort.
"I am confident this forum would be a good opportunity for businesses to gain valuable insights into the benefits, requirements and processes involved in a listing exercise," he added.
The one-day forum, is being held in conjunction with the 50th anniversary of Mida and is a joint effort with Bursa Malaysia.
The event has lined-up speakers from the investment, financial and industrial segments on providing guidance on how to take a company public.
Mida Deputy Chief Executive Officer Datuk Rajendran said about 100 participants are attending from both the manufacturing, trade and logistics, finance, telecommunication, pharmaceutical and building materials industries.
"In line with the Industry 4.0 (fourth industrial revolution), local companies need to adopt automation, robotics, smart technologies and invest in research and development, and upskilling of talent to stay competitive.
"We hope more local companies, including Small and Medium Enterprises (SMEs) will be able to increase their competitiveness, expand operations, integrate into the supply chain and become global champions," he added.
Meanwhile, Bursa Malaysia Chief Commercial Executive, Selvarany Rasiah said the bourse offers a vibrant and attractive valuation for local companies, and apart from the current Main Board and Ace, will soon introduce a new market.
"The new market, accessible to sophisticated investors, can be expected to provide SMEs with greater fund raising access and visibility via the capital market," she added.
-- BERNAMA