KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
Fresh Optimism Returns to IPO Market
After nearly two months of subdued activity, Malaysia’s IPO market regained momentum in September with the debuts of JS Solar (JSSOLAR, 0369.MY) and Express Powerr (XPB, 0370.MY). Both stocks delivered strong first-day gains — 29% and 12.5%, respectively — sparking hopes of a broader IPO rally on Bursa Malaysia.
Icents Group Doubles Since Listing
Among the eight companies listed in Q3, Icents Group (ICENTS, 0366.MY) emerged as the quarter’s standout performer. Specializing in cleanroom solutions, the stock delivered the highest debut-day returns and has since more than doubled in value, making it the best-performing IPO of the quarter.
Kopi’s Expansion Story
The strong performance of new listings mirrors earlier IPO success stories, most notably Kopi (KOPI, 0338.MY). The F&B operator has surged from RM0.80 in August to RM1.41, supported by rapid outlet expansion — growing from 20 stores at IPO to 31 in just two months. Investors, however, will be watching closely to see if this physical expansion translates into proportionate revenue and earnings growth to sustain its valuation.
Market Conditions Improving
IPO sentiment has been buoyed by the relative stability of the FTSE Bursa Malaysia KLCI Index (.KLSE.MY), which is holding near 1,600 points. With the US Federal Reserve entering a rate-cut cycle and tariff-related pressures easing, the broader equity environment is tilting toward optimism. This backdrop has encouraged more companies to consider listings, aiming to capture renewed investor appetite.
Valuations Stay Conservative
Recent IPOs have been priced cautiously, with average P/E multiples around 13x, reflecting lingering caution after recent market softness. For investors, this offers entry into growth names at reasonable valuations, though long-term returns will still hinge on fundamentals such as profitability, financial strength, and management quality.
Outlook: More Listings Ahead
With several new IPOs expected in the coming weeks, momentum could build further into Q4. But as always, success will depend not just on debut-day excitement, but on whether companies can deliver sustainable earnings growth post-listing.
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