<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 31): Bursa Malaysia Bhd has maintained its target of having 39 initial public offerings (IPOs) for this year.</p></div>

<div class=newsTextDataWrapInner><p>Notably, this year's IPO target is the highest since 2006, when there were 40 new listings that year.</p></div>

<div class=newsTextDataWrapInner><p>In comparison, there were 30 IPOs on the local bourse in 2021 and 35 IPOs in 2022.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Bursa chief executive officer Datuk Muhamad Umar Swift disclosed that there are 23 companies in the pipeline to launch their IPOs in the second half of this year, of which seven are scheduled to be listed on the Main Market, up to two are LEAP Market listings, while the remaining are bound for the ACE Market. He said this at a press conference in conjunction with the exchange’s second-quarter (2QFY2023) results briefing.</p></div>

<div class=newsTextDataWrapInner><p>In the first seven months of 2023, Bursa saw 21 new listings, of which 14 were on the ACE Market.</p></div>

<div class=newsTextDataWrapInner><p><em>Read also:<br />
<a href="https://theedgemalaysia.com/node/676712" target="_blank">Bursa Malaysia’s 2Q net profit jumps 28.2% as operating expenses fall</a></em></p></div>


Bursa Malaysia Bhd has maintained its target of having 39 initial public offerings (IPOs) for this year.

Notably, this year's IPO target is the highest since 2006, when there were 40 new listings that year.

Bursa Malaysia maintains 2023 target of 39 IPOs

High-quality corporate reporting could play a role within the Madani Economy framework, where Malaysia aims to 'raise the ceiling' by expanding the economic pie, fostering broader participation and increasing the complexity of our economy.

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The SA Sentral and Section 13 development plan, set to be implemented over the next seven years starting next year, will cover 58.6 hectares (145 acres) and aims to transform the area into a modern, dynamic, and competitive integrated hub in the country.

PKNS unveils development plan for SA Sentral 

The flood situation in Kelantan, Terengganu, Kedah, and Perlis continues to decline, with the number of victims increasing on Thursday night, while the flooding in Johor was over when the last temporary relief centre was closed this afternoon.

Number of flood victims across four states rises, Johor fully recovers 

Wellcall Holdings Bhd (KL:WELLCAL) declared a special dividend on top of an interim dividend, despite a 56.22% drop in the industrial rubber hose maker’s fourth quarter net profit — mainly due to foreign exchange (forex) losses.

Wellcall's 4Q profit drops 56% on forex loss, pays 2.2 sen dividend

Icon Offshore Bhd (KL:ICON), which has proposed a name change to Lianson Fleet Group Bhd, posted a threefold jump in net profit for the third quarter on higher daily charter rates.

Icon Offshore mulls rename to Lianson Fleet Group, 3Q profit triples on higher daily charter rates

France will sharply reduce subsidies for electric-car purchases in the coming days, with a new scale ranging from €2,000 (RM9,364) to €4,000 based on income, down from the previous range of €4,000 to €7,000, a government source said on Thursday.

France slashes electric car subsidies amid budget crunch

WCE Holdings Bhd’s (KL:WCEHB), the concessionaire of the West Coast Expressway (WCE) project, extended its loss-making streak to six straight quarters with a net loss in the July-September quarter, mainly due to interest expenses related to project financing for the completed sections of the highway.

WCE logs sixth straight quarter in the red, eyes return to profit on highway completion

German inflation unexpectedly remained unchanged in November, backing arguments for the European Central Bank (ECB) to continue lowering interest rates.

Consumer-price growth in Europe’s largest economy held at 2.4% — below the 2.6% median estimate in a Bloomberg survey.

German inflation unexpectedly holds steady, backing ECB cuts

Datuk Seri Mohamed Azmin Ali has been appointed as Bersatu secretary general effective Thursday, party president Tan Sri Muhyiddin Yassin said.

Azmin Ali appointed Bersatu sec gen

Romania’s Constitutional Court ordered a recount of all the votes in the first round of the presidential election, which was won by a little-known pro-Russian candidate, deepening the political crisis in the country.

Romanian top court orders a recount in presidential election won by pro-Russian candidate

<p>T Ananda Krishnan, a billionaire tycoon with an empire stretching from telecommunications to oil and gas, passed away on Thursday at the age of 86.</p>


Billionaire tycoon Ananda Krishnan passes away

<p>Genting Malaysia Bhd's (KL:GENM)&nbsp;third-quarter net profit jumped over threefold from the previous year, as it recognised net unrealised foreign exchange (forex) translation gains totalling RM601.8 million on its US-dollar denominated borrowings, as opposed to a forex loss of RM1.7 million previously.&nbsp;</p>


Genting Malaysia's 3Q profit highest in nearly six years on forex gains

<p>Toh Puan Na’imah Abdul Khalid, the widow of the late former finance minister Tun Daim Zainuddin, will have her passport unconditionally returned to her by the Sessions Court, after the Court of Appeal (COA) on Thursday overturned a High Court decision which previously denied her application to have the documents returned to her.</p>


Daim’s wife gets unconditional return of her passport from Court of Appeal

<p>CIMB Group Holdings Bhd (KL:CIMB), Malaysia’s second-largest bank by assets, said its net profit for the third quarter rose nearly 10% from a year earlier, thanks to healthy growth in both net interest income (NII) and non-interest income (NOII).</p>


CIMB Group’s 3Q net profit rises nearly 10%, on track to hit ROE target

<p>Gaming-to-plantation conglomerate Genting Bhd (KL:GENTING) reported a 57% drop in its third-quarter net profit, as it was hit by higher property, plant and equipment (PPE) write-off totalling RM207.3 million, as opposed to RM1.3 million previously.</p>


Genting's 3Q net profit more than halves on higher write-off

<p>Supermax Corp Bhd (KL:SUPERMX) extended its streak of losses to seven quarters, as a surge in&nbsp;operating expenses sank the glovemaker&nbsp;into the red,&nbsp;compounded by currency losses.</p>


Supermax trudges through 1Q as losses pile up, expects better finances next year

<p>Carlo Rino Group Bhd (KL:CRG) is selling its shares at 27 sen apiece in an initial public offering (IPO) that could raise over RM46.4 million, according to its prospectus unveiled on Thursday.</p>


Carlo Rino selling shares at 27 sen apiece for ACE Market listing, IPO may raise RM46.4 mil

<p>The total cost of the expansion of the Penang International Airport (LTAPP) is estimated at RM1.55 billion, with almost all of it to be financed through a private financing initiative by Malaysia Airports Holdings Bhd or MAHB (KL:AIRPORT).</p>


Penang airport expansion estimated at RM1.55b, almost fully funded by MAHB — exco

<p>The weaker US dollar was a tailwind to Capital A Bhd (KL:CAPITALA) in the third quarter ended Sept 30, 2024 (3QFY2024).</p>

<p>After four consecutive quarters of losses, Capital A posted a record-high net profit of RM1.64 billion for 3QFY2024, as opposed to a net loss of RM102.75 million a year ago, as the group recognises RM2.27 billion in foreign exchange (forex) gains compared with a forex loss of RM93.92 million in the corresponding quarter.</p>


Forex gains of RM2.27 bil lift Capital A earnings to record high in 3QFY2024 

<p>Sime Darby Bhd's (KL:SIME) net profit jumped 36% in the first quarter ended Sept&nbsp;30, 2024 (1QFY2025) from a year ago, mainly on profit contributions from the UMW division and gain on disposal of Malaysia Vision Valley land.</p>


Sime Darby's 1Q profit jumps 36% on UMW earnings, Malaysia Vision Valley land disposal

<p>China's ByteDance is suing a former intern for US$1.1 million (RM4.9 million), alleging he deliberately attacked its artificial intelligence large language model training infrastructure, a case that has drawn widespread attention within China amid a heated AI race.</p>


ByteDance seeking US$1.1m damages from intern in AI breach case, report says

<p>OVER the past few weeks, contracts from Petroliam Nasional Bhd (Petronas) and its production sharing contract partners have been coming in, largely for maintenance, construction and modification (MCM) as well as hook-up commissioning (HUC) services, benefiting a number of local oil and gas (O&amp...

Cover Story: O&G jobs coming in, more expected

<p>Hong Leong Financial Group Bhd (KL:HLFG), the financial services flagship of tycoon Tan Sri Quek Leng Chan, said on Thursday its net profit rose 14% in the first financial quarter from a year earlier, driven by the banking and insurance businesses.</p>


Hong Leong Financial Group's 1Q net profit rises 14% as banking, insurance arms report gains

<p>Farm Fresh Bhd's (KL:FFB) net profit more than doubled in the second quarter ended Sept&nbsp;30, 2024 (2QFY2025), as contributions from Inside Scoop, Sin Wah and profitable Australian operations were boosted by decreased dairy raw material costs.</p>


Farm Fresh declares dividend of one sen as 2Q earnings double

<p>Tenaga Nasional Bhd (KL:TENAGA) posted an 85% rise in net profit to RM1.58 billion for its third quarter ended Sept 30, 2024 (3QFY2024) thanks to hefty foreign exchange (forex) gains, against RM856.2 million in the same quarter last year, according to the utility giant’s bourse filing on Thursday.</p>


TNB 3Q profit up 85% on RM1.12b forex gain

<p>Prime Minister Datuk Seri Anwar Ibrahim said on Thursday that the approach of obtaining helicopters for the country’s security forces through a leasing arrangement could ease the burden on the nation’s coffers.</p>


PM defends RM16b leasing arrangement of helicopters for country's security forces

<p>Berjaya Corp Bhd (KL:BJCORP) kicked off its new financial year with another quarterly loss dragged by its retail and services businesses, but said it is optimistic that some of the units will improve.</p>


Berjaya Corp suffers another quarterly loss, optimistic some segments will improve

<p>The National Kidney Foundation (NKF) has on Thursday managed to quash the Inland Revenue Board’s decision in 2020 to withdraw the tax-exemption status of the charitable organisation.</p>


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<p>Axiata Group Bhd (KL:AXIATA), the country’s largest telecommunications company by revenue, returned to the black in the third quarter as currency gains and other one-off items offset a decline in operating income.</p>


Axiata returns to the black in 3Q as one-off gains offset lower operating income

<p>Alliance Bank Malaysia Bhd (KL:ABMB) said its second-quarter net profit increased marginally by 2.47% year-on-year (y-o-y), mainly driven by revenue growth which was offset by higher allowances for expected credit losses and operating expenses.</p>
