KUALA LUMPUR (March 17): Prime Minister Tan Sri Muhyiddin Yassin announced several stock market-related initiatives under the PEMERKASA stimulus package, in a bid to encourage fundraising via the equity markets.
He said listing-related fees will be exempted for 12 months for companies that are applying to list on the Main, LEAP and ACE Markets of Bursa Malaysia.
Meanwhile, companies that post losses in 2021 will receive rebates on their respective annual listing fees.
The fundraising limit for companies utilising equity crowdfunding will also be increased to RM20 million from RM10 million previously, with this method of fundraising to be expanded to include unlisted berhad companies.
To assist companies that are facing financial difficulties which are at risk of winding up, the Companies Commission of Malaysia has agreed to increase the indebtedness threshold to RM50,000 from RM10,000 previously.
Other initiatives to assist businesses include a RM50 million allocation for matching grants aimed at developing the aerospace and medical devices industries.
The government is also planning to issue a Sustainability Sukuk valued no less than US$1 billion (RM4.12 billion), the proceeds of which will go towards funding programmes and projects with elements of sustainability as well as projects that address the socio-economic impact of the Covid-19 pandemic.
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