Malaysia IPOs: momentum holds, near-term plays matter

Malaysia’s IPO engine is humming, and momentum isn’t slowing. In the first half of 2025, Malaysia outpaced its Southeast Asian peers with 32 IPOs raising roughly USD940 million. The country also led the region in overall IPO capitalisation. Meanwhile, Bursa is on target for 60 listings this year, supported by a diverse sector mix and continued investor interest. On the listings front, recent ACE-market debuts like iCents and Fibromat, along with Main Market standouts Oriental Kopi hitting fresh all-time highs, show the opportunities available now, not just in future names. While marquee deals like4s the Sunway Healthcare spin-off is lining up, savvy traders are finding better action in today’s active IPOs. 

What to watch now (recent listings you can trade) 

Oriental Kopi (consumer F&B) – new all-time highs on results, not just hype. 

• Why it matters: The stock printed a fresh All-Time-High in late August after reporting another solid quarter while the momentum is earnings-driven.  

• Catalysts to set alerts for: new outlet openings, packaged foods distribution updates, margin trends in café vs. retail, and the next quarterly window. 

• Trade angle: momentum + fundamentals. Buy on constructive pullbacks that hold recent support; avoid chasing breakouts without volume confirmation. Keep this on your watchlist and check for updates on new outlets or product launches. If you’re already holding, monitor results to see if growth continues. 

HI Mobility (transport services) – post-IPO resilience. 

• Why it matters: Main Market listing and opened above offer and has stayed a watchlist name since debut.  

• Catalysts: route expansions, fleet upgrades, cross-border traffic data, seasonal travel spikes. 

• Trade angle: trade news bursts (route wins/permits). If price consolidates above IPO reference levels with rising volume, consider a starter. Watch for travel or transport news. Stronger ridership or route expansions can be good signs. 

Eco-Shop Marketing (value retail) – scale + defensiveness. 

• Why it matters: Malaysia’s biggest 2025 IPO to-date (RM974M / USD230M raised). Value retail tends to hold up even in choppy macros.  

• Catalysts: net store adds, ticket size, inventory/FX management. 

• Trade angle: watch same-store sales or store-count updates; consider buying dips toward prior support if fundamentals (gross margin) stay intact. Look out for store expansion news or quarterly earnings. More outlets = potential growth. 

iCents Group (cleanroom EPCC) – semicon supply-chain angle. 

• Why it matters: levered to cleanroom and controlled-environment projects (electronics/healthcare).  

• Catalysts: contract awards, capex cycles in semicon/healthcare, orderbook growth. 

• Trade angle: trade contract-win headlines; be disciplined if orderbook disappoints. Track announcements of new contracts as this tells you if business is growing. 
   

Fibromat (environmental / geosynthetics) – where infra spending meets sustainability. 

• Why it matters: Erosion-control/geosynthetics play with plans to add biodegradable erosion blankets; a way to express infra + sustainability themes.  

• What they do: makes mats and solutions that stop soil from washing away on slopes/riverbanks—used in road, rail, flood-mitigation and hillside projects.  

• Catalysts: government infra budgets, flood-mitigation tenders, capacity additions. 

• Trade angle: accumulate on quiet days ahead of tender cycles; avoid if project awards stall. Pay attention to government infrastructure projects or flood-control news, as this drives demand. 

Paradigm REIT (retail malls) – income yardstick so soon after listing.  

• Why it matters: Newly listed and already released a first interim set gives early visibility on Net Property Income, occupancy and distributable income. Currently trading below its IPO price, with an expected dividend yield of over 7% based on forward projections at today’s price. 

• Catalysts: rental reversions, occupancy >95%, distribution announcements. 

• Trade angle: yield + stability play; watch if price drifts to imply an attractive forward yield versus peers. Keep tabs on occupancy rates and dividend updates. If it stays high, income investors may benefit. 

Reality check: Debut pops aren’t guaranteed; many IPOs settle below issue after a few weeks. That’s why the “news + numbers” calendar below matters. 

What’s coming later (so you don’t wait around) 

Sunway Healthcare spin-off (pipeline highlight) 

• Status: Sunway plans to list Sunway Healthcare Holdings on Bursa by 1Q 2026; analysts expect strong institutional interest given scarcity value in listed private healthcare.  

• Actionable now: You don’t need to sit on your hands; near-term trading likely stays in existing/recent IPOs above. Keep a watchlist tag for SHH news flow and allocations closer to 2026. 

The bottom line: Malaysia’s IPO scene continues to offer plenty of action in the here and now. From Oriental Kopi’s record highs to new names like Fibromat and steady income plays like Paradigm REIT, traders don’t have to wait for the next mega-listing to find opportunities. With Rakuten Trade, you can act on these stories seamlessly. Enjoy one of Malaysia’s lowest brokerage rates, zero fees on your first Bursa trade, access to US and HK markets from the same platform, and tools like price alerts and watchlists that keep you a step ahead. Open a Rakuten Trade account in minutes and start trading with confidence, backed by research insights and a platform built for every investor.

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