logo
MyCIF made RM1.2bil co-investments

MyCIF made RM1.2bil co-investments

The Star3 days ago
Securities Commission Malaysia building in Kuala Lumpur
PETALING JAYA: The Malaysia Co-Investment Fund (MyCIF) has exceeded RM1bil in total co-investments since its inception, playing a key role in providing financing for micro, small, and medium enterprises (MSMEs) in Malaysia.
In its 2024 annual performance report released yesterday, MyCIF said total co-investments reached RM1.19bil, with RM264mil invested in 2024 alone.
The RM1.19bil total co-investments by MyCIF represented 4.6 times of the RM260mil total funds disbursed from the government to date into the programme.
The Securities Commission (SC), which administers MyCIF, said this demonstrated 'efficient use of public funds'.
'MyCIF has attracted 4.1 times in private sector funding for every ringgit invested, demonstrating a strong crowding-in effect.
'This saw a 21.4% increase in total private investment,' the SC pointed out.
Since its inception, more than 9,500 MSMEs have benefitted from the co-investments by MyCIF, which was set up by the Finance Ministry under Budget 2019. Trading ideas: SunCon, Cahya Mata, Aneka, PJBumi, Atlan, Apex, FACB, Prolintas, Green Packet, Oxford Innotech, CLMT, United Plantations
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

FMM calls for prompt gazette of Sept 15 holiday
FMM calls for prompt gazette of Sept 15 holiday

The Star

time9 hours ago

  • The Star

FMM calls for prompt gazette of Sept 15 holiday

PETALING JAYA: The Federation of Malaysian Manufacturing (FMM) says the government should provide legal clarity on Malaysia Day as an additional public holiday on Sept 15, warning that ad hoc holiday declarations could cost the manufacturing sector up to RM1bil in losses. In a statement, it called for the prompt gazette of the holiday under the Holidays Act 1951. 'This is critical to provide legal clarity and enable businesses to plan operations, workforce scheduling, and ensure compliance with the Employment Act 1955,' it said. On July 23, Prime Minister Datuk Seri Anwar Ibrahim had declared Sept 15 as a public holiday in conjunction with the Malaysia Day celebrations. The Human Resources Ministry subsequently stated that employers are required to observe the holiday. According to FMM, while it appreciates the spirit of commemorating Malaysia Day, any last-minute holiday declarations will severely impact industries with tightly scheduled operations, particularly in manufacturing. 'The manufacturing sector is highly sensitive to last-minute holiday declarations due to tightly scheduled production timelines, export commitments, and labour shifts,' said the organisation. It added that the additional public holiday would create a four-day disruption for many companies, especially those operating on shift-based or continuous production cycles from Saturday through Tuesday. 'Such interruptions require production lines to stop and restart, which is both costly and inefficient,' it said. Citing past estimates, FMM stated that each unplanned public holiday can result in productivity and output losses of up to RM1bil for the manufacturing sector alone. Industries most affected include those with continuous processes such as steel, chemicals, and food processing, while small and medium enterprises, in particular, might struggle to absorb the costs or reorganise replacement shifts. 'The disruptions also have a cascading effect across supply chains and logistics operations,' it stated. FMM stressed that frequent ad hoc holiday declarations undermine Malaysia's credibility and attractiveness as an investment destination. 'Policy announcements must reflect clarity, consistency, certainty, and credibility. Frequent ad hoc holiday declarations do not augur well for a country striving to achieve high-income nation status and position itself as a competitive, reliable, and attractive destination for investment. 'Investors and global buyers require predictability and stability,' it added. FMM advised employers to monitor the official gazette notification, adjust production schedules accordingly, and maintain clear communication with customers, suppliers and workers to minimise disruption.

Engineer loses RM178,200 in online investment scam
Engineer loses RM178,200 in online investment scam

New Straits Times

time11 hours ago

  • New Straits Times

Engineer loses RM178,200 in online investment scam

PASIR GUDANG: An engineer lost RM178,200 after falling victim to an online stock investment scam that promised high returns via WhatsApp. Seri Alam district police chief Assistant Commissioner Mohd Sohaimi Ishak said the 33-year-old female victim lodged a police report yesterday, saying that an investment syndicate had scammed her since March. "The victim was initially attracted after seeing a stock investment advertisement on the Telegram app and followed a provided link. She was promised high profits in a short time. The victim then made 19 transactions into three different bank accounts from March to July, involving a total amount of RM178,200," he said in a statement. Sohaimi added that the victim only realised she had been scammed when she was asked to make additional payments to withdraw her capital and profits. Initial police investigations found that all the bank accounts involved had 21 prior police reports related to investment fraud. The case is being investigated under Section 420 of the Penal Code for cheating, and also involves the use of mule accounts. "The police advise the public not to be easily deceived by any investment schemes that promise high returns. "Always be cautious and verify the legitimacy of any company or individual offering investments before making any payments. "The public should check with the Securities Commission Malaysia, avoid trusting promises of quick riches, and use the Semak Mule portal to verify suspicious accounts before any transactions,".

Sustainable finance unlocked
Sustainable finance unlocked

The Star

time11 hours ago

  • The Star

Sustainable finance unlocked

As companies face growing pressure from investors, regulators and customers to embed sustainability into their core operations, access to sustainable capital has become more than just an advantage—it's a necessity. The momentum behind ESG-aligned financing is undeniable. With growing investor demand, heightened scrutiny, deeper ESG integration, tightening regulatory standards and competitive pricing for sustainable finance, there's no better time for businesses to act. A critical factor that determines whether an issuance attracts market confidence or falls short, is the framework it's built on—for corporates raising funds through green, social or sustainability-linked bond or sukuk, a credible framework aligned with local, regional and global standards forms the foundation for trust, transparency and long-term impact. Choosing the right structure Each financing instrument plays a distinct role. Green and social bonds or sukuk are used to fund eligible environmental and social projects; sustainability-linked instruments tie financing terms to ESG performance targets; and transition finance, meanwhile, supports companies in hard-to-abate sectors as they shift to lower-carbon operations. For instance, proceeds from green bonds or sukuk are earmarked for eligible projects including renewable energy, energy-efficient buildings or clean transportation—with monitoring to ensure alignment with sustainability goals. 'We support our clients to integrate sustainability into their fundraising exercises, building on their existing efforts to meet growing investor demand for responsible and values-based solutions,'says Nor Masliza. A sustainability-linked bond or sukuk, by contrast, allows for broader use of proceeds, including general business purposes. However, issuers must commit to time-bound, measurable environmental or social performance targets such as reducing carbon emissions. The profit rate of the bond or sukuk may be adjusted upward if these targets are not met, creating direct accountability. A sustainable bond or sukuk framework underpins any impactful issuance. A strong framework enables credible project evaluation, selection and reporting. It ensures clarity on how proceeds are used, monitored and ringfenced. Choosing the right framework depends on the company's sustainability strategy. Companies with a pipeline of eligible projects may opt for use-of-proceeds based framework. Where there are no clear eligible projects, a sustainability-linked framework can offer greater flexibility for the utilisation of proceeds—provided that the issuer can commit to ESG targets that are meaningful, measurable, and independently verifiable. Issuers may also adopt an umbrella framework covering both use-of-proceeds and sustainability-linked structures. These frameworks are guided by local, regional and global standards: Malaysia's Securities Commission's (SC) Sustainable and Responsible Investment Sukuk (SRI) Framework and SRI-Linked Sukuk Standards, the regional Asean Standards, and globally, International Capital Market Association's (ICMA) principles for green, social, sustainability and sustainability-linked bonds or sukuk. Post-issuance, issuers must establish robust monitoring systems and ensure transparent ongoing reporting. CIMB views sustainable finance frameworks as capital-raising tools as well as strategic levers to build long-term credibility and investor confidence. Delivering strategic value Partnering with a sustainability structuring adviser provides issuers with a crucial edge. CIMB offers end-to-end support, helping businesses develop frameworks aligned with recognised standards and market practices. A strong framework ensures alignment of a company's internal priorities—such as financial performance, business operations, social responsibility and regulatory compliance—while also addressing the expectations and requirements of external stakeholders, including investors, rating agencies, SPO providers and regulators. As CIMB Investment Bank Bhd chief executive officer Nor Masliza Sulaiman explains: 'While the adviser helps develop and structure the sustainable finance framework, the secondary-party opinion (SPO) provider serves as an independent reviewer to assess its alignment with market-recognised standards. Both roles are vital to ensuring the integrity and credibility of the issuance.' Beyond advisory services, CIMB supports clients across the entire issuance lifecycle including appointing SPO providers and managing stakeholder engagement. For broader ESG needs, CIMB also offers corporate advisory services that go beyond financing—helping clients embed ESG considerations across their business strategies. For sukuk, CIMB helps to ensure the structures are Shariah compliant with the Islamic principles. Beyond capital market instruments, CIMB also offers sustainable bilateral loan structures tailored to clients' ESG ambitions—including green loans and sustainability-linked loans designed with measurable performance targets. CIMB sees strong alignment between Shariah values and ESG objectives. Both emphasise ethical conduct, risk-sharing, and long-term value creation, making Islamic sustainable finance a natural fit for ESG-minded corporates. 'We support our clients to integrate sustainability into their fundraising exercises, building on their existing efforts to meet growing investor demand for responsible and values-based solutions,' says Nor Masliza. Real-world impact Case Spotlight: Powering Clean Energy with TNB Genco. CIMB served as sustainability structuring adviser for TNB Power Generation Sdn Bhd's RM10bil Sustainability Sukuk Wakalah Programme. The proceeds support the Nenggiri Hydroelectric Power Plant—a key project in Malaysia's renewable energy transition. CIMB also acted as principal adviser and lead arranger. CIMB was also sole principal adviser, sole lead arranger, lead manager and sole sustainability structuring adviser for UEM Olive Capital Bhd's RM7bil Sukuk Wakalah Programme. The proceeds fund renewable energy, energy efficiency, clean transportation and pollution control initiatives. CIMB acted as green financing coordinator for DayOne Data Centres' landmark RM15bil-equivalent multicurrency financing, which includes a RM7.5bil Murabahah Term Financing facility and a US$1.7bil offshore term loan. Structured under the Green Loan Principles, the proceeds will partly fund the refinancing and capital expenditure of DayOne's data centres in Johor. These facilities meet—or are expected to meet—LEED 'Gold' or higher certification by the US Green Building Council. CIMB's leadership in this space is reflected in multiple accolades in 2024 and 2025, including: > Best Bond House for Sustainable Finance in Malaysia 2024 by Alpha Southeast Asia > Best Islamic Finance Sukuk House 2024 by Alpha Southeast Asia > Best Investment Bank in Malaysia 2025 by FinanceAsia > Best DCM House in Malaysia by FinanceAsia > Sukuk Adviser of the Year, Asia Pacific 2024 by The Asset. What's next for sustainable issuance? CIMB expects continued momentum in sustainable and sustainability-linked bonds or sukuk, with new structures emerging to support transition finance, particularly in high-emission sectors like oil and gas, aviation and shipping. Emerging themes may include gender-focused, biodiversity or nature-related sukuk. 'With continually evolving investor expectations, there is a growing emphasis and demand for financing instruments that deliver real world impact. 'To maintain credibility and attract capital at scale, sustainable finance must be built on robust frameworks—with high levels of transparency, clear ESG targets and commitment to accountability,' says Nor Masliza. As ESG disclosures become the norm, access to sustainable capital—guided by the right advisor —helps businesses to transition toward a low-carbon future and strengthen investor confidence. With Asean as its home, CIMB is committed to supporting corporate clients in their ESG journey, driving sustainable progress, inclusive growth and impactful long-term development across the region. What makes a strong sustainable finance framework? > Set clear, measurable ESG targets > Align with global, regional and local standards > Establish strong monitoring and reporting systems > Obtain credible secondary-party opinion (SPO) > Ensure internal stake holder alignment

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store