KUALA LUMPUR: The Securities Commission Malaysia, together with Bursa Malaysia, will remove the exit offer requirement for companies transferring from the LEAP Market to the ACE Market by the second half of 2026, in a move aimed at easing listing costs and strengthening funding pathways for growing firms.
Finance Minister II Datuk Seri Amir Hamzah Azizan said the initiative will enhance the overall capital market funding escalator by positioning equity crowdfunding (ECF) as an early-stage financing platform for micro, small and medium enterprises (MSMEs) before they progress towards a public listing.
“The Securities Commission Malaysia, together with Bursa Malaysia, is strengthening the LEAP Market’s value proposition. This key initiative is expected to be implemented by the second half of this year,” he said at the Malaysia Co-Investment Fund (MyCIF) Engagement Day today.
Amir Hamzah said the measure forms part of broader efforts to improve access to financing for MSMEs and support their growth through Malaysia’s capital market ecosystem.
“What is important is that we continue to support MSMEs. Through the MyCIF programme, where the government co-invests alongside equity crowdfunding and peer-to-peer financing platforms, MSMEs have more opportunities to obtain funding.
“This is important because many small companies cannot rely solely on the banking system. Sometimes banks are reluctant to lend to smaller firms because they do not yet have a track record. Through this mechanism, other investors can come in and support them.”
However, Amir Hamzah noted that companies often encounter difficulties securing the next round of investment as they scale up.
“Sometimes companies grow to a certain stage but struggle to obtain the next round of investment. Therefore, the government is working to strengthen the funding pathway so that the ‘relay race’ of financing – from small companies to medium-sized firms and eventually larger companies – can continue.”
One initiative supporting this effort is GEAR-uP, which introduces MyCIF-backed companies to venture capital and private equity fund managers, Amir Hamzah said.
“This may enable them to secure new investments and continue growing. As these companies mature, some may eventually seek to list on Bursa Malaysia.
“What we are trying to do is facilitate that process so that companies can first enter the LEAP Market and, as they grow larger, move on to the ACE Market.”
The Securities Commission is also providing regulatory flexibility to help companies scale faster while ensuring that funding remains accessible throughout their development journey, he added.
Amir Hamzah said initiatives such as the Green Investment Tax Allowance and targeted grants are also supporting companies in transitioning to greener business practices, which are increasingly demanded by global supply chains.
“MyCIF sits within this broader architecture as a critical enabler, connecting early-stage enterprises to capital, markets and ultimately their full potential. And it works because of the ecosystem in this room – the platforms, the investors, the agencies and the companies who turn policy into real outcomes for real businesses.”
As more companies mature, it is equally important that they continue to have access to capital to support their next phase of growth, Amir Hamzah said.
