Bursa RISE participants show 4% improvement in price

The improvement is despite the general market price being negative

by AUFA MARDHIAH / Pic by Aufa Mardhiah

BURSA Malaysia Bhd revealed that the 60 companies participating in the Bursa Research Incentive Scheme (Bursa RISE) have shown 4% increase in price.

CEO Datuk Muhamad Umar Swift said these companies have shown 4% increase in price despite the general market price has been negative.

He made the revelation during the Bursa Malaysia’s Guidebook 3 of Public Listed Company Transformation (PLCT) programme.

The third guidebook, Strengthening Stakeholder Management & Investor Relations, emphasises the need for PLCs to enhance their engagement levels and customise their communication approach to better connect, as well as build relationships, trust and confidence with shareholders, wider stakeholders and within the company.

Furthermore, the guidebook also serves as a useful aid for companies across different sectors, industries and sizes, in their engagement with stakeholders. 

Meanwhile, Muhamad Umar said they are expecting some 300 PLCs joining the PLCT programme by the end of 2025.

“As of Aug 16, 2022, over 100 organisations have agreed to be part of the programme — 87 PLCs, six government-linked investment companies and eight other types of organisations (such as Minority Shareholder Watchdog Group, Securities Industry Development Corp and Malaysian Investor Relations Association).

“Bursa Malaysia will be actively engaging PLCs, particularly those from the ACE Market as they are those who might see greater impact and benefit by adopting some of the best practices espoused under the programme,” he added.

Officiated by the Finance Ministry in March this year, the objective of the PLCT programme is to help raising the stature of corporate Malaysia and increase the attractiveness of PLCs in Malaysia.

Separately, Bursa Malaysia chairman Tan Sri Abdul Wahid Omar stressed that corporate Malaysia must improve its performance as global competition intensifies.

“Although foreign shareholding in our equities market has remained steady at above 20%, the figure has since reduced to 20.2% in 2022, compared to pre-pandemic levels of 22.3% in 2019. The performance of the FTSE Bursa Malaysia KLCI benchmark index is currently just over the 1,500 level which needs to be improved too, for our broader market to be attractive to investors,” he said during the launch.

He added that there is a need for PLCs to better engage both local and international investors, particularly during periods of uncertainty and lacklustre performance.

“Stakeholders today expect much more from the board of directors and management of PLCs they invest in. Long gone are the days where investors looked solely at PLCs’ financial disclosures to make investment decisions.

“Nowadays, investor attention includes close scrutiny of the company’s business strategy roadmap for long-term sustainable growth. Therefore, it is critical that PLCs recognise the need to enhance and elevate their approach in stakeholder management, communication and investor relations narrative,” he said.