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Thursday, March 30, 2017

Potential SMEs to be identified for listing

Thursday, 30 March 2017

KUALA LUMPUR: SME Corp Malaysia is working together 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 this year.

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

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

“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.

She told reporters this on the sidelines of the Monthly Assembly of the Ministry of International and Trade and Industry (MITI) and Agencies here.

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, 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.

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.

Also present at the event were International Trade and Industry Minister Datuk Seri Mustapa Mohamed and Second Minister Datuk Seri Ong Ka Chuan.

On another development, Mustapa said it was important for the government to ensure that the SME sector was well prepared and able to sustain their operations in a challenging economic environment.

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

“What is more positive is that the growth rate in 2015 was 6.1% and this had exceeded the nation’s overall GDP growth which is 4.2%,” he said. — Bernama


Read more at http://www.thestar.com.my/business/business-news/2017/03/30/potential-smes-to-be-identified-for-listing/#01AbEHBTgm3T7x8j.99

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