Malaysia's equity markets are still regional seconds

Malaysia may not have a deep inventory of big-name companies that will come to market in 2010, but it does have liquidity.

For most of 2009 there was little capital markets activity of note on the Bursa Malaysia. AirAsia raised $166 million in a follow-on in September, Maybank had a successful $1.7 billion rights issuance in April and three Chinese footwear companies launched small initial public offerings IPOs during the year.

This trickle of equity capital markets activity followed a series of delistings earlier in the decade that left a bad taste in the mouths of many international...

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