MTDC sees four tech companies listing by 2020

malaysian technological development corporation sdn bhd logo
malaysian technological development corporation sdn bhd logo

SERDANG, July 6 — Malaysian Technology Development Corp Sdn Bhd (MTDC) expects at least four technology companies to list on Bursa Malaysia between 2018 and 2020.

Chief Executive Officer, Datuk Norhalim Yunus said the technology companies were involved in the area of medical devices, robotics and chemicals.

“Two of the companies are expected to be listed on the ACE market, while another is likely destined for the Main Market. The listing will be done progressively towards 2020 as we need to prepare them to get better valuations,” he added.

Norhalim told reporters this at MTDC’s Technology Training Academy’s (TENTRA) inaugural marquee series on cross-border listing, as well as Hari Raya Aidilfitri get-together here today.

To date, MTDC’s commercialisation ecosystem has provided funding and assistance, to over 500 technology-based companies.

Meanwhile, Norhalim sees the “Leading Entrepreneur Accelerator Platform (LEAP) “ market on Bursa Malaysia, as a big opportunity for start-up companies to raise funds to expand their businesses.

“From our perspective, as an early stage funder, it is a very exciting development in that it complements what we already have.

(I expect) a lot of deals for MTDC companies with LEAP as the second board needs historical track records.

“This is a change to the ecosystem where we had previously government funds assisting in the early stages of companies. Now, we have the potential of securing knowledgeable fund investors to invest in the growing stage,” he added.

TENTRA’s marquee series saw representatives from Bioalpha Holdings Bhd, DagangHalal Plc, Green & Smart Plc, Axcelasia Inc and Bursa Malaysia Bhd shares experiences and insights on their respective listing exercises.

DagangHalal and Green & Smart are two MTDC recipient companies that were successfully listed on the sub-markets of the London Stock Exchange last year.

Axcelasia is listed on the Singapore Exchange and Bioalpha Holdings on the ACE market of Bursa Malaysia since 2015. — Bernama

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