KUALA LUMPUR, April 23 (Bernama) -- Bursa Malaysia rebounded from yesterday’s downbeat performance to end at its intraday high today, driven by bargain hunting, particularly in technology, energy, construction, and consumer stocks. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 14.94 points or 1.01 per cent to 1,501.19 from Tuesday’s close of 1,486.25. The benchmark index opened 11.11 points higher at 1,497.36 and hit a low of 1,493.26 in the mid-afternoon session before climbing steadily upwards towards closing. Market breadth was positive, with advancers thumping decliners 717 to 264, while 403 counters were unchanged, 1,021 untraded, and 11 suspended. Turnover slipped to 2.99 billion units valued at RM2.08 billion against Tuesday’s 3.43 billion units valued at RM1.66 billion.
CUCKOO International (MAL) Berhad has announced a postponement of its Initial Public Offering (IPO) on Bursa Malaysia, citing market volatility as the key reason for rescheduling its listing from 30 April to 24 June 2025.
What’s Changed?
New listing date: 24 June 2025
IPO application closing date: 5 June 2025
A supplementary prospectus will be issued, and investors who already applied may withdraw during a designated period (details to follow).
CEO’s Statement:
"As the market presents near-term challenges, we believe that this is a prudent decision," said CEO Hoe Kian Choon.He reiterated CUCKOO’s long-term confidence and commitment to delivering growth across all business segments.
Why It Matters:
The move reflects uncertainty in Malaysia’s capital market, possibly linked to global tariff tensions and investor caution.
CUCKOO aims to ensure a sustainable and successful market entry, prioritizing timing and investor sentiment.
CUCKOO Malaysia has chosen to delay its IPO in response to short-term market instability, but remains optimisticabout its public listing later in June.
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