More S'pore, regional firms eye secondary listings on KL bourse

Singapore companies have recently been seeking opportunities in the Malaysian stock market, with semiconductor firms UMS Integration and Grand Venture Technology receiving approvals for their secondary listings in March.

- Sue-Ann Tan

This comes as global and regional markets in 2025 are expected to see a rebound in listings after a few years of tepid activity, experts said.

Grand Venture Technology, which listed on Singapore's Catalist board in 2019, said it obtained its secondary listing approval from the Securities Commission Malaysia on March 24.

"The company will be working towards the next steps with its advisers and provide an update through an announcement on SGXNet as and when there are material developments in this respect," it told The Straits Times.

It has operations in Penang and Johor Bahru.

UMS, on its part, said it received its approval from the Malaysian regulator on March 26.

The company's chairman and chief executive, Mr Andy Luong, said UMS' secondary listing is aimed at broadening investor reach and widening investor base, as well as improving share liquidity and supporting the group's growth in the coming years.

He said in response to queries from ST: "The group has recently acquired more land in Penang to expand its production facilities to meet the expected demand from key customers.

"However, the group has no immediate plan to raise more funds from the secondary listing."

He also said that the group will hold an extraordinary general meeting to seek shareholders' approval for changes to its existing Constitution that will facilitate the trading and settlement of the shares on Bursa Securities, and other amendments as required by the relevant authorities.

They are the latest companies to look to Malaysia, after the stock market there bucked the trend of global and regional declines by continuing to see strong initial public offering (IPO) numbers in recent years.