What's next after FGV, IHH, Astro?

ASIAN TIGER, AGAIN: Time to carry forward the momentum and attract foreign companies to float shares in Malaysia
IF we had blown all our life savings and lived like hippies in anticipation of the end of the world in 2012, as predicited by the Mayan calendar, it is now time to get a little bit edgy.

There are about 70 days left before 2012 becomes history and, unless a calamity strikes Mother Earth, the world does not look like it is coming to an end.

There are no major ongoing wars or stock market crises that could trigger mayhem. Yes, Europe is still a sick child but it has been sick for nearly half a decade now.

The good news is, in North Amercia, the United States' recovery is slowly picking up steam.

In Malaysia, the benchmark FTSE Bursa Malaysia KLCI index has reached more fresh peaks this year than any other year.

The index now hovers around the 1,666 level and expectations are before the year is over, it will test the 1,700-level mark.

Hitting the 1,700 mark will be a milestone for the index, and hopefully will put some money into the pockets of those who have placed their fate in the Malaysian stock market.

Looking back, things had not always been that rosy for the Malaysian stock market and some had even predicted that 2012 would be the market's Waterloo.

On September 9 2011, the Malaysian stock market's capitalisation was overtaken by that of its Indonesian counterpart.

The value of Indonesian equities surged to US$416 billion (RM1.27 trillion) on September 9, surpassing Malaysia's US$407 billion, to become the ninth-biggest stock market in Asia.

How time flies. Malaysia is once again described as an Asian tiger.

Our initial public offer market is acknowledged as the hottest in the world, thanks to the successful listing of Felda Global Ventures Holding Bhd, IHH Healthcare Bhd and Astro Malaysia Bhd.

They were some of the biggest IPOs in the world this year, raising more than RM12 billion.

More mega IPOs are coming our way next year with Wesport Holdings and Malakoff Bhd's IPOs poised to raise billions of ringgit and keep Malaysia at the epicentre of the IPO world.

Now that we have the limelight to ourselves, it will be a shame if we do not do more to attract foreign companies to float their shares here.

We have proved that we have the risk appitite and now we must show the will and ability to attract the best IPOs to Kuala Lumpur.

Failing which, once the big locally privately held companies have floated their shares on Bursa, the IPO market here will die a natural death, just like the much hyped 2012-Mayan end-of-the-world story.