SC: MyCIF co-invests RM165mil benefitting over 1,000 MSMEs

KUALA LUMPUR: The Malaysia Co-Investment Fund (MyCIF) has co-invested RM165 million in 5,349 Equity Crowdfunding (ECF) and Peer-to-Peer Financing (P2P) campaigns, benefitting 1,197 Malaysian micro, small and medium enterprises (MSMEs) by end-2020.

Securities Commission Malaysia (SC), in a statement today, said MyCIF, a fund administered by the commission on behalf of the Ministry of Finance since October 2019, has deployed the co-investments alongside private sector investments for a total of RM431 million.

In conjunction with the release of the MyCIF Annual report today, the SC noted that the fund initiative has also generated a positive net return of 1.9 per cent on its initial capital as at end-2020.

SC chairman Datuk Syed Zaid Albar said the commission supports and encourages new digital financial innovations and MyCIF has been successful in assisting startups and MSMEs to meet their funding needs.

"MyCIF enhances the liquidity of our ECF and P2P markets to provide financing to this critical segment of the Malaysian economy, while at the same time, crowd in a larger pool of investors.

"This has helped MSMEs get funding and swiftly deploy them for their business needs,” he said. - Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights


Next In Business News

New warning system to sound alarm on rainforest 'tipping points'
FOREX-US$ posts second week of gains ahead of Fed meeting
Oil price edges up in weekly rebound on forecasts for tight supplies
GLOBAL MARKETS-US stock markets hit new highs
Hotel industry’s defining moment
The toll on employment
Short Positions - Insurance, Covid-19, ESG
DPI Holdings sees virus-led opportunities
Kelington rides on semiconductor upcycle
Techna-X banks on digital trend to take it forward

Stories You'll Enjoy