The capital market initiatives announced during the Budget 2023 will complement and assist efforts to boost market confidence, encourage growth and catalyse private sector investment in the economy, says the Securities Commission Malaysia (SC).

One of the initiatives is the launch of a multi-year programme to build a sustainable pipeline of graduate talent for the capital market funded by Capital Market Development Fund (CMDF).

The Capital Market Graduate Programme will amount to RM30 million over a 3-year period and benefit up to 9,000 participants. This will be a private-public sector collaboration to improve the marketability of graduates in the capital market industry.

There will also be an additional RM30 million allocated to the Malaysia Co-Investment Fund (MyCIF) will further support the funding needs and catalyse growth of Micro, Small and Medium Enterprises (MSMEs).

Additionally, the SC will also collaborate with other stakeholders for a public-private partnership that will be established by the Ministry of Finance to provide a structured training programme for women and expand the talent pool with qualified and experienced women for leadership positions, including as directors on boards.

Meanwhile, home-grown technology-based companies and SMEs seeking listing on Bursa Malaysia’s LEAP and ACE markets will receive income tax deduction of up to RM1.5 million for selected listing fees from YA2023 to YA2025. The incentive would now include tech-based companies listed on the main board.

Dato’ Seri Dr. Awang Adek Hussin, Chairman of SC said,

“The talent deficit is a global phenomenon that will impact the growth trajectory of economies globally. Therefore, it is apt that Budget 2023 prioritises the boosting of the talent pool across the various economic sectors.

 

Budget 2023 will also support and strengthen the contribution of women in both the public and private sectors, with the establishment of a public-private partnership to provide a structured training programme for women talent.”