This article first appeared in The Edge Malaysia Weekly, on December 21 - 27, 2015.    

THE local deal pipeline was lacklustre in 2015 with only 15 companies making their debut on Bursa Malaysia. They were led in terms of value by Malakoff Corp Bhd, which raised RM2.3 billion, and Sunway Construction Group Bhd, which raised RM550 million. Despite the plunge in crude oil prices, two companies from the oil and gas industry — Carimin Petroleum Bhd and E.A. Technique Bhd — got listed this year.

However, fundraising on the secondary market was quite active with Petroliam Nasional Bhd issuing US$5 billion in debt paper, its first since 2009, while the restructuring of Eco World Development Group Bhd saw RM2.8 billion raised through a rights issue and private placement.

Some notable companies were privatised during the year, including IJM Land Bhd, Malaysian Airline System Bhd and Integrax Bhd. Abric Bhd disposed of its entire core business, netting RM125.8 million, while Malaysian Resources Corp Bhd sold Platinum Sentral to its associate MRCB-Quill REIT for RM740 million.

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