PETALING JAYA: More than 100 mid-tier companies (MTCs) in Malaysia are being honed to level-up via efforts by Khazanah Nasional Bhd’s initiative, Dana Impak.
In Malaysia, MTCs contribute about 36% to the country’s gross domestic product and employ some 16% of the national workforce.
In a statement, the sovereign wealth fund said these will include a dual-track approach of capacity development and mobilising growth capital via private credit and private equity strategies.
Managing director Datuk Amirul Feisal Wan Zahir said through Dana Impak, the group aims to be both a catalyst and a connector by identifying gaps in the ecosystem, deploying patient capital where markets are underserved, and investing in talent among others.
“Our focus on levelling up Malaysian MTCs represent our Advancing Malaysia strategy to enhance the country’s economic competitiveness and resilience,” he said.
He added among the initiatives included were the Elevate Programme, a four-month executive leadership programme established by the Securities Commission’s affiliate, Capital Markets Malaysia (CMM) with the aim of preparing small and medium enterprises (SMEs) and MTCs for successful capital raising.
“As part of Khazanah’s efforts to support MTCs access to the capital markets and strengthen their fundraising capabilities, Khazanah together with CMM will jointly fund MTCs participants in Elevate cohorts until 2027,” it said.
Another initiative is the MTC Growth Innovation Programme (MGIP), designed to equip MTCs with the skill sets to venture into new markets or expand into new business segments.
Khazanah said there will be masterclasses on customer-centricity, enterprise innovation and business expansion plan validation, while companies will have diagnostic support and executive coaching.
MGIP participants such as Enda Group Sdn Bhd said challenges faced as MTC’s are distinct from those of SMEs.
“That’s what drew us to join MGIP as it is a programme that understands what it takes to scale a business like ours,” said group chief executive officer Mohammad Munzir Aminuddin.
According to Amirul, Khazanah’s private credit strategy under Dana Impak aims to accelerate the growth of Malaysian MTCs with non-dilutive financing solutions.
“In line with this effort, Khazanah is pleased to announce its partnerships with Navis Capital Partners and Granite Asia,” he said.
Under the private equity strategy, Khazanah announced a partnership with Creador, to accelerate regional expansion and drive growth within MTCs through its value creation capabilities.
Meanwhile, Khazanah said there are opportunities for MTC’s to apply for the next MGIP cohort, which will commence in the third quarter of this year.
