Budget 2021: RM80mil allocated for alternative investment platforms ECF and P2P


Investors in ECF will get a 50% tax break for their investments, capped at RM50,000. — 123rf.com

PETALING JAYA: Budget 2021 is encouraging the alternative investment industry with a “mirror investment” into both peer-to-peer (P2P) lending and equity crowdfunding (ECF) platforms.

To support P2P platforms, especially those based on invoice financing, an RM50mil investment will be made under the budget to mirror private investments in the platforms, said Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

He added that P2P funding had shown to be an innovative alternative funding source, generating more than RM900mil in funds for small to medium enterprises (SMEs).

The budget also aimed to encourage investment in ECF by giving investors a 50% tax break for their investments, capped at RM50,000.

He said RM30mil will also be allocated as a matching grant for investments in ECF platforms, which will be supervised by the Securities Commision.
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