The Securities Commission Malaysia (SC) announced that it will be establishing a capital market welfare fund that is aimed at helping students from B40 households to obtain tertiary education, dubbed the Tabung Kebajikan Pasaran Modal. It is expected to be launched before the end of 2023.

Chairman of the SC, Datuk Seri Awang Adek Hussin said that the fund will provide the necessary financial aid to those who are deserving, and help to build future capital market talent. “This initiative forms a part of the Malaysian capital market’s contribution towards the national agenda of a more inclusive Malaysia,” he further said, adding that the fund can ultimately help to reinvigorate the market.

In addition to announcing the fund, Datuk Seri Awang Adek also said that the SC plans to intensify its efforts via the investED leadership programme and reach out to 9,000 university students through nationwide career talks and fairs. They are also looking at enabling 2,400 university students and graduates to take capital market introductory foundation programmes.

“InvestED is one of our more important initiatives that can groom the graduates into something that are not only acceptable but also employable. Furthermore, the objective is to prepare 600 young graduates through the leadership programme which includes six-month job placements in the industry,” said Datuk Seri Awang Adek.

Other initiatives that the SC has also rolled out to further improve the state of the market include reducing stamp duties and board lot size, as well as enabling fractional share trading. It has also widened its funding base to include financing for micro, small and medium enterprises (MSMEs), on top of larger businesses, as well as allowing dual-class shares on Bursa Malaysia.

Moving forward, the SC hopes to ease the process for companies that want to list on Bursa Malaysia, including expediting the initial public offering (IPO) process and reducing time-to-market.  

(Source: Malay Mail)

• TAGS:
• Datuk Seri Awang Adek Hussin
• Fractional Share Trading
• Fractional Trading
• Securities Commission
• Securities Commission Capital Market Welfare Fund
• Securities Commission InvestED Leadership Programme
• Securities Commission InvestED Leadership Programme 2023
• Securities Commission Malaysia
• Share Stamp Duty Rate
• Tabung Kebajikan Pasaran Modal