SC to announce more measures aimed at capital markets

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KUALA LUMPUR (Feb 27): The Securities Commission Malaysia (SC) said it will be announcing more capital market-specific measures to complement the government’s effort to support the Malaysian economy, in addition to those announced in the economic stimulus package today.
 
In a statement, the SC said the measures outlined in the stimulus package provide essential economic relief for affected households and businesses in the near term and will help to secure the recovery of the Malaysian economy in the medium term amid the Covid-19 outbreak, which has hurt the global economy.
 
It added that it will quickly set up the new co-investment fund of RM500 million for investments alongside private investors in early-stage and growth-stage Malaysian companies. 
 
“Through this co-investment, the government seeks to help realise the potential of home-grown start-ups as well as to crowd in further private sector funds to fuel high-growth companies.”
 
“The SC is working with relevant stakeholders on the implementation details of the co-investment fund, and will provide updates once finalised.”
 
The SC also said it will work closely with Bursa Malaysia to implement waiver of listing-related fees for eligible companies.
 
The one-year waiver, effective immediately, applies to companies seeking listing on LEAP or ACE Markets, as well as companies with market capitalisation of less than RM500 million on the Main Market, to continue encouraging successful growth companies to fundraise through the local stock market.
 
The one-year waiver of listing fees will take effect immediately.