Melaka eyes two GLC listings on Bursa Malaysia by 2029
Melaka will seek to list two state-linked companies on Bursa Malaysia by 2029, its chief minister said on Friday.
Source: The Edge Malaysia · August 8, 2026 at 7:49 AM · AI-assisted report
Corroborated
KUALA LUMPUR, 8 AUGUST 2026 —
Melaka will seek to list two state-linked companies on Bursa Malaysia by 2029, its chief minister said on Friday.
Market Impact
Melaka ICT Holdings Sdn Bhd plans an initial public offering as early as the first quarter of 2028, while Syarikat Air Melaka Bhd targets listing in the first quarter of 2029, according to Datuk Seri Ab Rauf Yusoh.
“Companies from Melaka must stand shoulder to shoulder with the best at the national level,” he told the RHB-Bursa Malaysia Retail Corporation Day opening ceremony.
Ab Rauf said Melaka ICT Holdings is undergoing readiness assessments and organisational restructuring ahead of its IPO. Syarikat Air Melaka is likewise restructuring and conducting due diligence, he added.
The push follows the state’s Melaka Sayang Rakyat initiative to scale up established businesses and connect them with financing, markets and strategic partners. The state government has also raised RM485 million in SME financing with RHB Bank, Ab Rauf noted.
He said the government’s goal is to attract major companies to Melaka, creating broader economic spillovers, local vendor opportunities and higher-quality jobs. More than 350 investors, corporate representatives and market practitioners attended the event to learn about financing and expansion options.
RHB Banking Group managing director and group chief executive Datuk Mohd Rashid Mohamad also participated in the ceremony.
Related: RHB · Bursa Malaysia