SC announces eight new recognised market operators

  • Business
  • Friday, 17 May 2019

In a statement issued yesterday, the SC said the Cabinet Special Committee on Anti-Corruption (JKKMAR) had approved its recommendation to require listed companies to put in place anti-corruption measures and a framework to promote the effective discharge of directors

KUALA LUMPUR: The Securities Commission (SC) has announced eight new recognised market operators comprising three equity crowdfunding (ECF) and five peer-to-peer (P2P) financing platforms to spur micro, small and medium enterprises (MSMEs) development.

SC chairman Datuk Syed Zaid Albar said the registration of the new platforms will help to further broaden ECF and P2P financing markets and enable healthy competition while meeting unmet demand from both issuers and investors.

"One particular segment where digitisation has made an impact is the financing of MSMEs.

"Despite being a vital component of the Malaysian economy, MSMEs are traditionally under-served by the financial system," he said at an event announcing the new financing operators, today.

With the new ECF and P2P financing players, which will operationalise by year-end, there are now 21 market-based financing platform operators registered in Malaysia.

As at end-March 2019, the ECF and P2P financing market has provided close to RM350mil of alternative financing for nearly 900 micro, small and medium enterprises.

Separately, the SC also released a new property crowdfunding framework. This is pursuant to an initiative announced under Budget 2019 to provide alternative financing for first-time buyers.

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