KUALA LUMPUR: Securities Commission Malaysia (SC) is assessing how public listed companies in the country are handling their annual general meetings, said chairman Datuk Mohd Faiz Azmi.
He noted that many shareholder meetings are still being conducted entirely online, including those of companies on the Main Market and on the ACE Market.
“Although fully virtual meetings were necessary during the Covid-19 pandemic, it is now time for these companies to start moving towards holding physical or hybrid meetings,” he remarked in his speech at the Securities Industry Development Corporation (SIDC) Business Foresight Forum today.
Mohd Faiz said transitioning to physical or hybrid formats is crucial for enhancing trust in public listed companies. “Establishing trust in our capital markets is key to attracting the investments needed to support micro, small, and medium enterprises as well as the broader capital markets.”
He referred to Capital Market Masterplan 3, introduced in 2021, which emphasises the need to foster an environment that supports MSME growth.
Mohd Faiz said the SC recently launched a comprehensive five-year roadmap to catalyse access to capital market financing for MSMEs and Mid-Tier Companies (MTC).c“This roadmap aims to increase the size of the MSME and MTC capital market from RM6.3 billion in 2023 to RM40 billion by 2028,” he added.
The expansion can be realised by enhancing access to financing and diversifying financing options, including the creation of new and specialised capital market products that simplify the funding process for MSMEs, he said.
“For example, expanding the number of peer-to-peer (P2P) operators offering debt-based financing solutions will enable MTCs to secure financing directly from investors, thus minimising the need for intermediaries.”
Mohd Faiz highlighted the role of Malaysia Co-Investment Fund, which received an additional RM100 million in Budget 2024, in aiding MSMEs to secure funding through equity crowdfunding (ECF) and P2P platforms.
“Since 2015, ECF and P2P platforms have assisted over 18,000 MSMEs, enabling them to raise nearly RM8 billion by June 2024. The additional RM100 million will further support key initiatives in sectors such as agriculture, healthcare, education, environment, community, and waqf asset development,” he said.
