KUALA LUMPUR, March 17 (Bernama) -- Bursa Malaysia extended gains to a third consecutive session today, driven by broad-based buying across various sectors following the recent strong sell-off, in line with the performance of regional markets, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 15.66 points, or 1.04 per cent, to 1,527.81 from Friday’s close of 1,512.15. The benchmark index opened 5.43 points firmer at 1,517.58 -- its intraday low -- and peaked at 1,531.63 during the mid-morning session and maintained its momentum throughout the afternoon session. On the broader market, gainers thumped decliners 708 to 297, while 425 counters were unchanged, 994 untraded, and seven suspended. Turnover improved to 3.28 billion units worth RM2.40 billion from 3.24 billion units worth RM2.5 billion on Friday.
SkyeChip Sdn., a semiconductor design firm, is reportedly considering an initial public offering (IPO) in Malaysia, targeting a valuation of over 1 billion ringgit (approximately $226 million). The company is aiming to launch the IPO in the second half of 2025, though the timing and offering size may change as discussions continue.
Key Points:
Company Background: Founded in 2019, SkyeChip specializes in chip design, and is well-positioned to benefit from Malaysia's growing semiconductor ambitions. The government is keen to support local companies in designing their own chips, with a goal to achieve 1.2 trillion ringgit in semiconductor exports by 2030.
Malaysia's Semiconductor Goals: Malaysia, which packages around 10% of the world's semiconductors, has signed a $250 million agreement with SoftBank Group’s Arm Holdings to gain access to semiconductor licenses and expertise.
IPO Potential: The IPO would help elevate SkyeChip in line with Malaysia’s push to become a regional leader in chip production. The company’s technical expertise is seen as a key asset in the country’s semiconductor development strategy.
Recent IPO Activity: Malaysia was a standout performer for stock deals in Southeast Asia in 2024, raising $1.6 billion through IPOs. There are also other sizable IPOs expected in the region this year, including from MMC Port Holdings and Sunway Healthcare Group.
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