KUALA LUMPUR: Bursa Malaysia is on track to achieve its target of 60 initial public offerings by the end of 2025, with 37 companies already listed this year despite ongoing global uncertainties, said CEO Datuk Fad’l Mohamed.
He noted that the Malaysian stock exchange continues to serve as a robust platform for capital raising, with sustained interest from both prospective issuers and investors.
He said to date, no companies have withdrawn their listing plans, and the IPO pipeline remains healthy.
“As it stands today, we still see companies exploring IPO opportunities on Bursa Malaysia. With 37 listings to date, we are well-positioned to meet our target of 60 IPOs by year-end,” he told reporters after the signing of a memorandum of collaboration (MoC) between Bursa Carbon Exchange (BCX) and UEM Lestra Bhd today.
Looking ahead, Fad’l said mid-cap companies are expected to continue leading the listing activity. He added that there are indications that several large IPOs may also materialise.
Issuers will need to carefully consider pricing and sizing strategies to align with prevailing market conditions, ensuring that their offerings are well-structured for investor uptake, Fad’l said.
Meanwhile, BCX, a wholly owned subsidiary of Bursa Malaysia, entered into a strategic collaboration with UEM Lestra, the energy transition arm of UEM Group Bhd.
The partnership will pilot Malaysia’s first Bilateral Energy Supply Contract (BESC) auction under the government’s Corporate Renewable Energy Supply Scheme (CRESS). This auction will enable buyers to submit competitive bids for green electricity generated from UEM Lestra’s large-scale hybrid solar photovoltaic (PV) projects, based on their individual electricity demand.
Under the MoC, BCX will offer its Auction-as-a-Service solution to facilitate an open and transparent bidding process for renewable energy, in line with the CRESS framework.
The initiative is expected to enhance liquidity on BCX, particularly through the eventual clearing and settlement of renewable energy certificates once the solar projects reach commercial operation.
Fad’l emphasised that the success of the pilot auction will depend on securing credible offtakers through a fair and competitive process.
He highlighted BCX’s role in enabling efficient price discovery and in supporting national efforts to reform the electricity market via market-driven mechanisms.
UEM Lestra CEO Harman Faiz Habib Muhammad noted that the auction provides the company with an efficient platform to seek optimal offers for its BESC initiative. He said BCX meets the company’s core criteria for a price discovery platform – namely, its credibility, independence, and impartiality, particularly in avoiding competition within the same business space.
UEM Lestra is currently developing several large-scale hybrid solar PV projects, including its flagship 1-gigawatt facility in Segamat, Johor. Slated for commissioning in the first quarter of 2028, the project is expected to generate over one million megawatt-hours of clean electricity annually, offsetting nearly 800,000 tonnes of carbon dioxide emissions each year.
