Bursa boss expects four more leap market listings for 2019

Overall, Bursa Malaysia CEO Datuk Muhammad Umar Swift said the market prospects are healthier for this year compared with 2018, mainly in the ACE market and Leap market, due to the local institutional investors’ strong supports.— Bernama pic
Overall, Bursa Malaysia CEO Datuk Muhammad Umar Swift said the market prospects are healthier for this year compared with 2018, mainly in the ACE market and Leap market, due to the local institutional investors’ strong supports.— Bernama pic

KUALA LUMPUR, Sept 6 — Bursa Malaysia Bhd is expecting four more Leading Entrepreneur Accelerator Platform (LEAP) Market listings for 2019 due to the strong fundamental in the country.

Chief executive officer Datuk Muhammad Umar Swift said year-to-date, there were 22 new listings on the board — 12 on the LEAP Market, seven on the ACE Market and the remaining three on the Main Market.

“For the remaining of the fiscal year, we are looking at approximately another four, maybe more, depends on the flow of advice,” he told reporters on the sidelines of MMIS Bhd debut on the LEAP market today.

Muhammad Umar also said market players should focus on small and middle-sized capital stocks rather than on the FTSE Bursa Malaysia KLCI (FBM KLCI) shares as the former has been recording a strong growth year-to-date.

Overall, he said the market prospects are healthier for this year compared with 2018, mainly in the ACE market and Leap market, due to the local institutional investors’ strong supports.

He added that the market sentiment remains positive, mainly driven by the strong gross domestic product growth of 4.7 per cent in the first half of this year.

“In the first half of the year against our peers, the capital raised in Malaysia was higher than within Asean, excluding real estate investment trusts (REITs).

“I think that is a very positive thing and we are very happy,” he added. — Bernama

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