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.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3


Did you find this article insightful?


100% readers found this article insightful

Next In Tech News

Mars rover Perseverance goes for a 'spin'
Twitter's Dorsey auctions first ever tweet as digital memorabilia
Antivirus software pioneer McAfee charged by U.S. with cryptocurrency fraud
Third of young people show signs of phone addiction regardless of use
Exclusive: U.S. agency probes Facebook for 'systemic' racial bias in hiring, promotions - attorneys
Why is nobody following me on Instagram?
’The Pedestrian’: Were traffic signs always this much fun?
More than 20,000 U.S. organizations compromised through Microsoft flaw - source
Main Volkswagen brand speeds up shift to electric
Twitter explores 'undo send' feature for paying users

Stories You'll Enjoy