FORBES ASIA’s, select 200 out of 15,000 stock-traded companies in Asia-Pacific with revenues between $5 million and $1 billion based on the following criteria: five-year average return on equity and pretax margin greater than 10%, positive sales and earnings per share growth for both the most recent fiscal one and three-year periods, debt less than 75% of shareholders’ equity, and a trading history of at least on year. The final list of 200 is not ranked.
Out of the 200, only 52 repeated from last year, although a dozen others returned to the BUB (Best Under a Billion) from lists previous to that. Of the 2013 group, four companies namely Hartalega Holdings, Mudajaya Group, Philweb & YGSoft—share the mark for longest BUB, which is four years.
There are 12 Malaysia companies listed. The table below is the full list of Forbes Asia 200 Best Under A Billion for 2012.
So far, 2011 is a good year for Initial Public Offering (IPO) listing in Bursa Malaysia. At the time of writing, there were 14 new IPOs listed. Out of these figure 8 IPOs were listed in the Main Market while 6 were listed in ACE Market.
All the IPOs debuted higher than IPO price on the first day of listing. However, 3 out of the stocks close lower than IPO price at the time of writing.
If you are interested to apply for upcoming IPO, take a look at the following table which shows the upcoming IPO for 2011.
Tambun Indah Land is a property developer based in Penang and it was listed on Main Market on 18th January 2011 at an IPO price of RM0.70. On listing day, share price hits RM0.865 but since then the price dwindling down to below its IPO price. On 23rd March 2011, share price close at RM0.675.
Fair Value/Target Price for Tambun by two research houses, RHB Research & Jupiter are at RM0.81 and RM0.95 respectively. However, the forecast may be not so accurate for a newly listed stock.
One interesting fact about Tambun is, they expected to pay high dividend to the shareholders. From IPO prospectus, Tambun have a dividend payout ratio policy in between 40% to 60% of the net profit.
Tambun Indah Land Bhd (TILB) Initial Public Offering (IPO) received an overwhelming response with its Malaysian public portion of 11.05 million shares. It was oversubscribed by 14.9 times.
The IPO attract 10,751 applications or 175.7 million shares with a total value of RM123 million. For the Bumiputera portion, a total of 4,362 applications for 59.5 million shares were received which represents an oversubscription rate of 9.78 times.
The Public Issue and Offer for Sale exercise comprises;
In 2010, there is 29 new Initial Public Offering (IPO) compare to 14 in 2009. Out of 29 listings, 23 companies were listed on the Main Board of Bursa Malaysia, while the rest were on the ACE Market.
How do they performed?
Based on data compiled from Bursa Malaysia, 17 out of 29 stocks closed higher than their offer price on the listing date. However, on 30th December 2010, the last trading day, only 12 closed higher than offer price. Seem like IPO stocks performance in 2010 is not very encouraging.
In January 2011, 3 more IPOs will be listed in Bursa Malaysia. They are K. Seng Seng Corporation, Benalec Holdings and Tambun Indah Land. With 2010 IPO performance data, are you going to subscribe to 2011 IPO?
The table below are the summary of 2010 IPO performance.