KUALA LUMPUR: Bursa Malaysia Bhd turned in a stellar performance for 2024, with average daily trading value surging 65% year-to-date, bringing the year-end average to slightly above RM3.1 billion.
Bursa Malaysia chairman Tan Sri Abdul Wahid Omar said overall market capitalisation has crossed the RM2 trillion mark since May, cementing the exchange’s resilience amid global economic uncertainties.
“Our index is up 10.8%, and 2024 has been an exceptional year. What is truly noteworthy is the vibrancy of our initial public offering (IPO) market.
“This year, we saw 55 listings, raising a total of US$1.5 billion (RM6.6 billion). Bursa Malaysia is currently the most vibrant IPO market,” he said at the ICAEW Insight Conference 2024 today.
Abdul Wahid said the exchange’s success is attributed to macroeconomic improvements and efficiency measures spearheaded by Prime Minister Datuk Seri Anwar Ibrahim’s directives.
“By shortening the processing time for IPOs to three months, we have significantly attracted more companies to list. The move to streamline the IPO process has been pivotal in making the market more attractive, enabling faster market entry and encouraging businesses to seek capital more promptly. It removed the concerns about long delays, which often led companies to delay or look elsewhere for listing opportunities,” he explained.
Looking ahead to 2025, Abdul Wahid highlighted that the prospects remain bright.
“We have 19 IPO approvals in hand, with 12 already confirmed for next year. The pipeline indicates another robust year for the capital market,” he said, emphasising that continued macroeconomic stability will play a key role.
Beyond market performance, he highlighted the pressing need for wage improvements to align with the objectives of the Madani Economic Framework.
“Today, labour’s share of income remains disproportionately low. While it improved slightly to 33.1% in 2023, we are still far from the 45% target. This disparity needs to be addressed,” he said.
Citing recent data, Abdul Wahid disclosed that half of Malaysians in the formal sector earn less than RM2,745 per month. “It is alarming to see such low figures when compared to gross domestic product contributions. Businesses must prioritise fair compensation to spur domestic consumption and economic growth.”
Abdul Wahid emphasised that enhancing wage levels and productivity will be key factors in driving broader prosperity. -
