Deloitte says Malaysian IPO market remains strong

The initial public offering (IPO) market in Malaysia remains strong despite the COVID-19 pandemic, driven by investors' demand for good business-fundamental companies, professional services firm Deloitte said. The firm said the Malaysian IPO market saw a 102% increase in the proceeds raised at USD681m this year compared to 2021. The number of ACE listings also doubled from 11 in 2021 to 22 this year. The strong performance in 2022, against a backdrop of global inflation, rising interest rates, and the threat of a recession, is proof of the resilience of the Malaysian capital market, said Deloitte Malaysia disruptive events advisory leader Wong Kar Choon. In Southeast Asia, data by Deloitte showed that companies raised USD6.3bn from 136 IPOs to date this year, down 52% from the full year of 2021.