Securities Commission's Dr Wong highlighted that only 17% of ECF and P2P-funded businesses are from the northern region, emphasising a significant gap in awareness.
Bukit Mertajam: Operators of micro, small, and medium enterprises (MSMEs) in the northern region are being encouraged to explore new funding opportunities through the Malaysia Co-Investment Fund (MyCIF).
The MyCIF is a co-investment fund established by the Finance Ministry under Budget 2019 to co-invest in MSMEs through equity crowdfunding (ECF) and peer-to-peer (P2P) financing platforms.
Securities Commission Digital Strategy and Innovation executive director Dr Wong Huei Ching highlighted that only 17% of ECF and P2P-funded businesses are from the northern region, emphasising a significant gap in awareness.
“This percentage is low. That is why we are organising roadshows in collaboration with the Northern Corridor Implementation Authority (NCIA) to raise awareness and encourage MSMEs to seize the opportunity to strengthen their businesses through MyCIF’s alternative financing channels,” she told reporters at the MyCIF@Northern Region Roadshow yesterday.
Wong said the northern region, which accounts for 20% of Malaysia’s MSMEs, was chosen for the roadshow due to its importance in driving economic growth.
She stressed the importance of expanding the MyCIF roadshow nationwide, ensuring that businesses across Malaysia have equal access to powerful alternative-financing options.
“Today’s sessions are designed to educate attendees about ECF and P2P financing, equipping them with the knowledge, tools and connections needed to access the funding options,” said Wong.
With seed funding of RM260mil, MyCIF has co-invested more than RM1bil in over 9,000 MSMEs, helping businesses access funding through ECF and P2P financing.
Additionally, Budget 2025 has allocated RM40mil to MyCIF to promote innovation in Islamic finance, supporting the adoption of risk-sharing financing on ECF and P2P platforms. — Bernama
