Wednesday, March 29, 2017

SME Market to be launch mid 2017

SME Corp Malaysia is working with Bursa Malaysia to identify potential Small and Medium Enterprises (SMEs) to be listed on the SME Market, which will be launched either in June or July 2017.

The proposed new SME Market hoped to facilitate greater access to capital market financing for the SMEs to support their developmental and lifecycle needs.

SME Corp chief executive officer Datuk Hafsah Hashim said a few companies have been identified and are undergoing the evaluation process.

"At the moment, we have identified our Four and Five Stars companies (under SME Competitiveness Rating for Enhancement concept). We are looking into the data base of close to 600 companies that have been identified as having potential to be on the new SME Market," she said.

"Once investors or equity funders take up the company, they will raise up the level of capitalisation before (the companies) are listed on the ACE Market," she added.

The new SME Market is meant for investors or equity funders to look through this catalyst and find ways to facilitate these companies in terms of pumping in capital.

Hafsah said SMEs' accounts would be made public and their management practices would also be made known to potential investors, equity funders and venture capitalists.

The SME sector's contribution to the gross domestic product (GDP) currently stands at 36.3%.

Source: Bernama

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