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Sunday, April 20, 2008

Malaysia: Healthy growth for capital market

The Star, 19 Apr 08

KUALA LUMPUR: The Malaysian capital market registered a healthy growth in the first quarter of 2008, according to the Securities Commission (SC).
The growth was supported by the increased number and value of private debt securities (PDS) and initial public offerings proposals (IPOs) approved between January and March.
In a statement, the SC said it had approved 28 PDS proposals valued at RM38.3bil in the first quarter.
“This was double the value of PDS proposals approved in the first quarter of 2007,” it said.
Additionally, 13 of 15 IPO proposals considered were approved in the first quarter.
The SC said of the approved proposals, six were slated for the main board, three for the second board and four for the Mesdaq market.
“There was a significant increase in IPO interest from large cap companies in the first quarter of this year,” it said.
Of the six applications approved for the main board, five were by companies with market capitalisation of more than RM500mil each.
The SC said it maintained its strong performance standards with 98.7% of licensing applications and 96% corporate proposals proceeds within the time charters.
A total of 1,958 applications were received for new licences and renewal of licences in the first quarter of 2008, it added. – Bernama

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Ahmad Sanusi Husain, Independent Consultant, Public Mutual (Islamic Funds)
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