KUALA LUMPUR: Bursa Malaysia’s focus will shift to the quality and size of future initial public offerings in 2026, with greater emphasis on larger listings while maintaining sufficient volume to support capital-raising.
CEO Datuk Fad’l Mohamed said having achieved 55 IPOs in 2024 and 60 in 2025, the exchange enters 2026 with a strong pipeline and is targeting a total market capitalisation of RM28 billion, up from RM27.4 billion in 2025, which serves as its primary Key Performance Indicator.
“We will continue to support listings across both the Main Market and ACE Market, recognising the ACE Market as a vital funding platform for SMEs and mid-market companies, while placing a stronger focus on sizeable Main Market IPOs.
“With six IPOs completed year-to date and solid momentum across both markets, we remain on track, but performance will be assessed primarily on value creation and market capitalisation rather than listing numbers alone,” he told reporters during the Bursa Malaysia financial results FY25 media briefing today.
Bursa Malaysia’s net profit decreased 11.7% to RM60.82 million for the fourth quarter ended Dec 31, 2025 (Q4’25), from RM68.9 million posted in the same quarter last year while revenue for the quarter increased 2.67% to RM190.87 million from RM185.90 million recorded in Q4 of the previous year.
Meanwhile, total operating expenses saw an increase of 4.5% to RM390.1 million in FY25, against RM373.4 million in FY24, driven by higher administrative expenditure and investment in digital solutions.
In FY25, Securities Market trading revenue declined to RM308.2 million from RM381.5 million in FY24, reflecting a 19.8% drop in average daily trading value amid subdued investor sentiment and global market uncertainty, while Derivatives Market trading revenue edged down 0.9% to RM112.8 million due to lower collateral management fees.
Bursa Malaysia’s Islamic Market operating revenue rose 31.2% to RM23.5 million, driven by higher Bursa Suq Al-Sila’ trading revenue and a more than threefold increase in Bursa Gold Dinar revenue, while data business revenue grew 3.9% to RM81.4 million on sustained demand and a higher subscription base, alongside continued efforts to promote strong environmental, social and governance practices and disclosures.
In line with Bursa Malaysia’s performance in FY25, the board has declared a final dividend of 14 sen per share, amounting to about RM113.3 million, which will be paid on Feb 27.
Combined with the interim dividend of 14 sen per share paid on Aug 27, 2025, this brings the total dividend to 28 sen per share, equivalent to a total payout of RM226.6 million and a payout ratio of about 91%.
Moving on, Fad’l said Bursa Malaysia will put more focus on strengthening market vibrancy by attracting larger IPOs that meet the investment requirements of foreign institutional investors.
He said that with net foreign inflows of RM1.14 billion year-to-date, capital has increasingly flowed into large companies, particularly in the financial sector.
“To sustain this momentum, we are actively targeting companies with a market capitalisation of RM1 billion and above, including those within the technology ecosystem, and working closely with a strong pipeline of such companies to bring them to market.
“At the same time, we are enhancing visibility and investor engagement to support long-term growth and confidence.
“Through platforms such as Invest Malaysia and Invest Malaysia Away, Bursa provides foreign investors not only access to listed companies but also direct engagement with policymakers and national leaders, offering clarity on Malaysia’s macroeconomic outlook, policy direction, and growth strategy.
“This approach ensures investors understand the company’s trajectory and the broader environment, which is critical in attracting high-quality, long-term capital,“ he said.
Furthermore, Bursa Malaysia expects sustained investor participation in the capital market, in line with Bank Negara Malaysia’s projection that Malaysia’s economy will grow by 4.0% to 4.5% in 2026, driven by domestic demand, sustained investment activity, and moderate export performance.
“Nonetheless, the exchange remains focused on its continuous outreach programmes such as Invest Malaysia and Invest Malaysia (IM) Away, an international roadshow organised by Bursa Malaysia aimed at attracting foreign investors to the Malaysian capital market, as well as retail roadshows outside of the Klang Valley,“ the company said in a Bursa Malaysia filing.
Further, the company said the derivatives market’s trading and hedging activities are expected to remain influenced by macroeconomic conditions, developments in US tariff policies, and ongoing geopolitical tensions that continue to pose risks to global supply chains.
In response, the exchange remains focused on advancing strategic initiatives to strengthen the trading ecosystem, enhance market resilience, broaden product offerings, and attract greater market participation, while supporting the business’s long-term sustainability.
