LEAP pioneers unlikely to test rule limits yet

LEAP pioneers unlikely to test rule limits yet

 Nature of current SMEs and investors’ mind set may curb riskier offerings for now
PETALING JAYA: The Leading Entrepreneur Accelerator Platform (LEAP), which is set to see its first listing next Tues day, is unlikely to see initial listings testing the complaisant nature of the new market’s rules yet, as one industry player pointed out, bridled by the nature of cur rent small and medium enterprises and investors mind set.

The listing requirements for the LEAP market are less stringent than for the other two markets in terms of company track record, focusing more on the future prospects of the enterprise. A case in point is the market’s first listing, Cloudaron, which under its founder Ong Chang Jeh has been around since 2010. It has a presence in Singapore, Indonesia and Malaysia and has total assets of RM58 million. For the financial year ended March 31, 2017, the company made a net profit of RM5.2 million, 3,818.2% higher than the RM 126,000 made for the same period in financial year 2016.

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