Maxis placement shows force is with Malaysia

A $M$1.656 billion $387 million primary placement for Maxis Berhad on Monday demonstrated that foreign investor confidence is returning to Malaysia after a number of difficult and scandal-plagued years. 

The 300 million-share deal for the country's largest mobile operator was a large one by domestic standards.

It not only represented the largest-ever primary placement for a Southeast Asian telecom company, but also Malaysia’s largest private sector primary placement since 2013. 

But the deal’s most striking aspect was the participation of foreign investors, which have largely been absent from Malaysian deals since the Sarawak Report began publishing allegations about state-run fund 1MDB in...