KUALA LUMPUR: The Securities Commission Malaysia (SC) and SME Corporation Malaysia (SME Corp) are teaming up to create about 200 capital market readymicro, small and medium enterprises (MSMEs) by 2026.
The SC and SME Corp today signed a Memorandum of Understanding (MoU) to facilitate greater access to capital market financing for MSMEs, towards this end.
The MoU also looks to strengthen the familiarity of 300 MSMEs with sustainability disclosures and corporate governance best practices.
"This MoU aligns with our vision to foster a vibrant and resilient capital market that serves not only large corporations, but also the smaller enterprises," he said during the signing of the MoU. MSMEs are an integral part of the economy, contributing about 38 per cent of Malaysia's GDP and 48 per cent of total employment in 2022," The SC chairman Datuk Seri Dr. Awang Adek Hussin said in a statement.
Under the MoU, both the SC and SME Corp agreed on several joint developmental initiatives to strengthen market insights and data analytics on MSME access to the capital market and to expand the capital market funding pool for MSMEs.
The MoU was signed by Awang Adek and SME Corp Malaysia CEO Rizal Nainy. It was witnessed by SC Managing Director Datin Azalina Adham and SME Corp. Malaysia Deputy CEO (Implementation & Development) Zaky Moh.