1MDB delay dampens Malaysian IPO volumes as market loses spark

Bankers that had been counting on a $3bn-plus IPO from 1Malaysia Development (1MDB) to boost volumes for the year had their hopes dashed this week, with the company now unlikely to list until the end of the first quarter of 2015. IPOs from the country have been few and far between this year, and 1MDB’s delay shows that bankers are too reliant on the government to revitalise the market, writes Rashmi Kumar.