Kenanga expects IPO market to remain buoyant in 2018


KUALA LUMPUR: With the number of initial public offerings (IPOs) this year surpassing that of last year, Kenanga Investment Bank is positive that the trend could continue into 2018.

Speaking to reporters on the sidelines of the grand finale of the third edition of the “Kenanga KenTrade Challenge”, managing director Datuk Chay Wai Leong said the better IPO market is attributable to the improved market sentiments.

Adding on, he noted that the market may see some excitement with the 14th General Election looming around the corner.

On another note, Kenanga today announced that full-time trader Mohd Fairi Che Wanik, 40, walked away with the grand prize of the KenTrade Challenge. He took home RM50,000 cash and a trip for two to Hokkaido, Japan.

The seasoned trader, who made 15% returns in the month-long challenge, said the key to success in trading is to do research and understand the sectors that one intends to invest.

He also noted that it is important to know if the particular company’s earnings is sustainable and has a competitive advantage.

Coming in second is programmer Teng Le Woi, who took home RM18,000 and AirAsia passes for two to Asean, whereas the second runner-up was 28-year-old Caryn Choo, who took home RM10,000 and AirAsia passes for two to ASEAN.

The grand challenge round for the live stock trade challenge took place between Sept 4 and Sept 29.

Read the original story on: TheSunDaily.My