Bursa Malaysia Bhd (KL:BURSA) will focus on initial public offerings (IPOs) of larger-capitalised companies as their primary target to strengthen the Main Market, Amir Hamzah told reporters following the listing ceremony of oil and gas shipping company Orkim Bhd (KL:ORKIM) on Tuesday.
“We are in discussion with Bursa in setting a target that is not just about numbers but also weight of players within the market,” he said.
Bursa Malaysia has hosted 58 listings this year to date, comprising nine IPOs on the Main Market, 44 on the ACE Market and five on the LEAP Market.
Collectively, the newly listed Main Market companies command a total market capitalisation of RM16.17 billion as at December 9, while ACE Market issuers contribute RM13.73 billion. This brings the combined value of both boards to RM29.9 billion.
Orkim, previously wholly owned by Ekuiti Nasional Bhd (Ekuinas), was among the latest Main Market entrants. The state-owned private equity firm, established to invest in Bumiputera-driven companies, realised RM276 million from the IPO.
Amir Hamzah said prioritising scale reflects the government’s push to build “bigger and stronger” Bumiputera companies that can eventually compete beyond Malaysia.
Larger entities, he noted, offer greater stability, clearer structures and stronger investor appeal, giving Bursa Malaysia “more weight” in the market rather than simply lifting the number of listings.
Scale also enables companies to pursue mergers and acquisitions, creating a more sustainable corporate ecosystem over time, Amir Hamzah said.
“Ekuinas has quite a few that they are incubating at this point in time,” he said. “When they have achieved what Orkim has done, they will take it to either the market or do a private placement.”
He stressed, however, that Bursa Malaysia is not intended to be merely an exit route for government investment companies. Instead, the government aims to nurture Bumiputera companies with the capacity to grow at home and abroad, including through mergers or acquisitions where appropriate.