Despite the lacklustre stock market performance in the first half of the year, qualified companies have not been too discouraged from listing given that initial public offerings (IPOs) remain fairly numerous. But more encouraging has been the performance of some of the newcomers as a number of them have vastly outperformed the benchmark index.
KUALA LUMPUR (June 27): Hong Leong Investment Bank (HLIB) Research has valued Coraza Integrated Technology Bhd at 76 sen and said it believes Coraza will witness a multi-year growth from: i) Malaysia’s strong engineering supporting industries (ESI); ii) strategic portfolio exposures to the semiconductor, instrumentation, life science and medical devices and aerospace industries; and iii) a better product mix from major customers’ high-margin products.
KUALA LUMPUR (April 5): ACE Market's Coraza Integrated Technology Bhd was the best performing initial public offering (IPO) for the first three months, its share price 164% higher over its listing price of 28 sen, according to Bursa Malaysia’s first quarter 2022 (1Q22) IPO performance report for Main and ACE Market companies.
Bursa Malaysia remained lower across the board at midday on Tuesday (Jan 25) on ongoing fears of a faster interest rate hike in the United States and geopolitical tensions in Russia and Ukraine, an analyst said.