KUALA LUMPUR: The additional RM40 million to Malaysia Co-Investment Fund (MYCIF) will further enhance the liquidity of equity crowdfunding (ECF) and peer-to-peer (P2P) markets to better serve the financing needs of this important segment of the economy.
The Securities Commission (SC) said in a statement that with the additional funding, the available accumulated funds under MYCIF will come to RM300 million.
MYCIF has been successful in securing financing needs for startups and micro, small and medium enterprises (MSMEs).
"The SC welcomes these measures and incentives, which would enable the capital market and its supporting ecosystem to serve the needs of the domestic economy and businesses,” said its chairman Datuk Seri Dr Awang Adek Hussin.
Allowing dual-class share structures will also help high-growth, innovative companies in the Malaysian capital market, allowing investors access to more diversified investment opportunities.
Similarly, the tax incentives on listing fees for the ACE and LEAP markets, as well as technology-based companies on the Main Market of Bursa Malaysia, would help increase trading interest in the market by allowing investors to capitalise on these companies’ growth potential.
"The SC also welcomes the tax deduction on the cost of issuing SRI-linked sukuk.
"This demonstrates the role of the capital market in enabling the country’s transition towards a greener and more sustainable economy, by mobilisation of capital towards initiatives that provide more positive impacts to society,” it said.
The SC will work with the Ministry of Finance and the relevant stakeholders to operationalise them. Further details will be announced in due course, it said. - Bernama
