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2024 | Buch

New Initiatives in the Malaysian Capital Market

With a Focus on LEAP and SPAC

verfasst von: Hon Wei Leow, Wee Yeap Lau

Verlag: Springer Nature Singapore

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Über dieses Buch

This book covers the most recent initiatives in the Malaysian capital market. In doing so, it discusses the Leading Entrepreneur Accelerator Platform Market (LEAP Market), and Special Purpose Acquisition Company (SPAC).
With regard to the LEAP Market, the book elaborates on its inception, value proposition, governance, performance, issues, and strengths. It also compares LEAP Market with the Main and ACE Markets, and draws the experience of the Korea New Exchange (KONEX) for LEAP Market to emulate and improve its operation, showing how KONEX provides valuable lessons for Malaysia's LEAP Market, as the former has two times more listed firms than the latter. Similarly, the book also includes discussions on the inception of SPAC, its features, volumes, risk, issues, strength, life cycle and time frame of SPAC IPO, and includes case studies of the four firms listed under SPAC IPO.
Put together, the book offers a compilation of facts, analysis and insights from these new market initiatives, and provides a reference for the financial market industry, regulators, market practitioners, analysts, researchers, government authorities and universities.

Inhaltsverzeichnis

Frontmatter
Chapter 1. Development of Bursa Malaysia as an IPO Market
Abstract
This chapter discusses the history of Bursa Malaysia as an IPO Market. It explains the types of initial public offerings (IPO), setting of offer price, timeline, IPO pricing anomaly, and current statistics of listing in the Malaysian stock exchange. Next, this chapter also provides some evidence of the impact of COVID-19 on the IPO. Despite the pandemic, the LEAP Market has shown some positive performance. The chapter concludes by discussing the challenges faced by the Malaysia stock market.
Hon Wei Leow, Wee Yeap Lau
Chapter 2. LEAP Market IPO: A New Financing Platform
Abstract
Bursa Malaysia introduced the Leading Entrepreneur Accelerator Platform (LEAP) Market in mid-2017. LEAP market has the third largest share in terms of market capitalization after the Main and ACE markets. Being the first country in ASEAN to launch the LEAP Market after South Korea, Bursa Malaysia aims to provide a new financing platform for small and medium Enterprises (SMEs) to obtain funding and capital expansion.
Hon Wei Leow, Wee Yeap Lau
Chapter 3. Intraday Performance of LEAP Market IPO
Abstract
The Leading Entrepreneur Accelerator Platform (LEAP) Market is an alternative financing to the Main and ACE markets for small and medium enterprises (SMEs) to obtain capital. Over the past six years, the LEAP Market has attracted 48 SMEs, with a total fundraising of approximately RM231.2 million from their listing exercise and a combined market capitalization estimated at RM5.5 billion as of 29 March 2023 (Bursa Malaysia in https://​www.​bursamalaysia.​com/​trade/​market/​securities_​market/​leap_​market, 2023.
Hon Wei Leow, Wee Yeap Lau
Chapter 4. Learning from the Korea New Exchange (KONEX)
Abstract
While Bursa Malaysia is the pioneer among the ASEAN countries that set up an exclusive market for Small and Medium Enterprises (SMEs), Korea has a similar setup. Due to its similar nature to the LEAP Market, this chapter explores the past and present development of the Korea New Exchange (KONEX). Moreover, this chapter compares both LEAP Market and KONEX.
Hon Wei Leow, Wee Yeap Lau
Chapter 5. LEAP Market: Current State, SWOT Analysis, and Way Forward
Abstract
This chapter discusses the current state and way forward for the LEAP Market. This chapter also analyses the trend of the listing in the LEAP Market and the number of firms by sector in Bursa Malaysia. Next, this chapter discusses the Capital Market Masterplan (CMP3), Consultation Paper No. 2/2022, LEAP Market Transfer Framework, and listing criteria. This chapter also makes a comparison between LEAP and KONEX, followed by a SWOT analysis. This chapter concludes with the way forward and policy suggestions to overcome the issues investors face when listing on the LEAP market.
Hon Wei Leow, Wee Yeap Lau
Chapter 6. SPAC IPO: Current State, SWOT Analysis, and Way Forward
Abstract
This chapter discusses the current state and way forward for SPAC IPO. It discusses listing requirements, the life cycle of the SPAC, time frame, features, performance, volumes, risk, acquisition, institutional framework and IPO proceeds. It also discusses case studies of the four listed firms under SPAC IPO: Hibiscus Petroleum Berhad, CLIQ Energy Berhad, Sona Petroleum Berhad and Reach Energy Berhad. Lastly, this chapter conducts the SWOT analysis and discusses the ùnfavourable conditions faced by SPAC-listed companies. This chapter concludes by highlighting the importance of reforms in the rules and regulations as a pre-condition to revise the interest of SPAC IPO among firms.
Hon Wei Leow, Wee Yeap Lau
Backmatter
Metadaten
Titel
New Initiatives in the Malaysian Capital Market
verfasst von
Hon Wei Leow
Wee Yeap Lau
Copyright-Jahr
2024
Verlag
Springer Nature Singapore
Electronic ISBN
978-981-9709-80-9
Print ISBN
978-981-9709-79-3
DOI
https://doi.org/10.1007/978-981-97-0980-9