MyCIF To Host Penang Roadshow To Promote MSME Financing In Northern Region

KUALA LUMPUR, Feb 14 (Bernama) -- The Malaysia Co-Investment Fund (MyCIF) will host a Penang roadshow on Feb 18, 2025 to promote the fund to micro, small and medium enterprises (MSMEs) in Kedah, Penang, Perlis and northern Perak.

Themed “Empowering Financing, Advancing Growth,” the event will be held at The Light Hotel Penang in Seberang Jaya, a statement from the Securities Commission Malaysia (SC) said today.

Organised by the SC in partnership with the Northern Corridor Implementation Authority (NCIA), the one-day MyCIF roadshow features an overview of equity crowdfunding (ECF) and peer-to-peer (P2P) financing as alternative financing avenues.

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“This collaboration leverages NCIA’s extensive experience in empowering business communities within the Northern Corridor Economic Region (NCER), encompassing Penang, Perak, Kedah, and Perlis,” the statement said.

The roadshow aims to enhance access to financing for businesses in the northern region while raising awareness of MyCIF, ECF and P2P in supporting MSMEs.

“There are over 220,000 MSMEs in the northern region playing a crucial role contributing to the northern economy currently.

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“Attendees will have the opportunity to network with SC-registered ECF and P2P platform operators and government agencies,” it said.

There will also be sessions and exhibitors to address businesses’ fundraising needs, providing valuable insights into alternative financing options.

MyCIF is Malaysia's first public-private co-investment model, leveraging ECF and P2P financing platforms to support MSMEs. It is administered by the SC and was established under Budget 2019.

With RM260 million in seed funding, it has co-invested over RM1 billion in over 9,000 MSMEs since its inception.

-- BERNAMA