RM50 Mln Funding To Help 200 SMEs List On Bursa By 2030 -- Steven Sim
KUALA LUMPUR, June 4 (Bernama) -- The government has allocated RM50 million under the PKS@BURSA Programme to help 200 high-potential small and medium enterprises (SMEs) go for listing on Bursa Malaysia by 2030.
Entrepreneur and Cooperatives Development Minister Steven Sim Chee Keong said the programme, implemented through SME Corp Malaysia, aims to build a stronger channel to produce more companies ready for future listing.
He said that, through the initiative, eligible companies can access the SME Listing Fund, which offers financing between RM2 million and RM5 million at a profit rate not exceeding five per cent for up to five years.
“Companies that participate in PKS@BURSA are eligible to receive a rebate of up to 20 per cent if they are successfully listed on Bursa Malaysia within five years.
“This will help reduce listing expenses and encourage more high-potential SMEs to access the capital market,” he told the media after launching PKS@Bursa and officiating the “Road to IPO” here today.
Sim said the funding can be used for working capital, corporate financing needs, and expenses related to public listing preparations, helping companies manage the costs involved in the listing process.
He said PKS@BURSA is designed to address two major challenges faced by growing companies, namely listing expenses and capacity requirements to enter the capital market.
The initiative thus provides a clearer path for SMEs with the potential to grow, expand operations and gain access to growth capital through Bursa Malaysia.
“PKS@BURSA supports the government’s aspirations under the 13th Malaysia Plan to strengthen the country’s capital market ecosystem and expand access to growth financing for local enterprises.
“Our goal is not just to produce more listed companies but to produce more companies that possess the capacity to be listed. PKS@BURSA is one of the paths to realise that goal,” he said.
Sim said the programme not only offers funding, but also places emphasis on capacity building to help SMEs meet the governance and management requirements needed to enter the capital market.
“The journey to listing requires companies’ readiness from a governance perspective, which may be a challenge for smaller companies,” he said.
He said SME Corp would collaborate with Credit Guarantee Corporation Malaysia Bhd, Bursa Malaysia, and several other agencies to provide guidance and support to SMEs interested in participating in the programme.
-- BERNAMA