Themed ‘Grow Your Business, List on Bursa’, the half-day forum serves as a platform for companies to obtain insights on the benefits, processes and procedures involved in creating a successful initial public offering (IPO). The forum which was held at MIDA headquarters in Kuala Lumpur Sentral was graced by Deputy Minister of International Trade and Industry, YB Datuk Haji Ahmad Maslan.
During his speech, YB Datuk Haji Ahmad Maslan said, “This forum is certainly in line with the Government’s on-going efforts to increase the competitiveness of our domestic players. We want more local companies to integrate into the international supply chain and become global champions. As the world is being shaped by new and emerging technologies, domestic players need to align themselves by adopting new processes and different ways of doing business, such as automation, robotics and other smart technologies. This will require businesses to invest in new technologies, upskilling of talents as well as research & development activities.”
“For entrepreneurs with global ambitions, taking your company public is not just about selling stock but it is also a testament to the success and long-term viability of your company. The process of being listed may require much commitment but the payoff is surely worth the effort. This includes raising strategic financial assets, which benefit businesses in accessing funds for further growth and expansion. As much as we encourage local companies to leverage on Government facilities, we are also looking atlong-term solutions. As such, this collaboration between MIDA and Bursa Malaysia is timely to encourage local companies to look beyond depending on Government’s facilities and grow their own resources towards sustainable growth,” YB Deputy Minister added.
Based on MIDA’s records, there are more than 300 private companies in Malaysia which meet the prerequisite for listing on Bursa Malaysia’s Main Board. These companies which have registered an
uninterrupted profit after tax of more than RM20 million for a period of 3 to 5 full financial years, have yet to take advantage of being listed.
On the collaboration with Bursa Malaysia on this event, Datuk N. Rajendran, Deputy Chief Executive Officer of MIDA said MIDA shares the same commitment as Bursa Malaysia to help businesses scale new heights. “Having the same chairman, namely Tan Sri Amirsham A. Aziz, has also provided an added advantage to this collaboration,” said Datuk N. Rajendran.
He further added, “This year marks five decades of MIDA’s commitment in transforming the nation under different phases of industrial development. Despite being half a century old, MIDA’s priority remains the same. We are here to ensure that Malaysia achieves its goals and aspirations to become a high-income nation. We continue to focus on developing a conducive environment for businesses to thrive. We want to foster a strong and comprehensive ecosystem towards ensuring the long-term sustainability of Malaysia’s economy.”
The event featured a line-up of prominent speakers from the investment, financial and industrial segments, namely MIDF Amanah Investment Bank, Cheang & Arif, and Deloitte. Topics covered were ‘Getting Ready – How to Avoid Pitfalls?’ and ‘Listing Opportunities in Bursa Malaysia’.
MIDA is the government's principal promotion agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Starting operations in 1967 with a relatively small set up of 37 staff, MIDA has grown to become a strong and dynamic organisation of over 700 employees. Headquartered in Kuala Lumpur Sentral, MIDA today has 12 regional and 23 overseas offices. This year as the organisation celebrates its 50th anniversary, MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter and Facebook.
About Bursa Malaysia
Bursa Malaysia is an approved exchange holding company under Section 15 of the Capital Markets and Services Act 2007. A public company limited by shares under the Companies Act 1965, Bursa Malaysia operates a fully-integrated exchange, offering equities, derivatives, offshore, bonds as well as Islamic products, and provides a diverse range of investment choices globally. For more information on Bursa Malaysia, visit www.bursamalaysia.com