Govt targets two Bumiputera listings on Bursa Malaysia this year under BRAVE programme
Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said 15 companies would be selected for the initial phase of BRAVE, with five undergoing intensive mentoring to prepare for listing on Bursa Malaysia.
Zahid's speech was read out by Entrepreneur and Cooperatives Development Minister Datuk Ewon Benedick at the BRAVE programme launch here today.
"Today, micro, small and medium enterprises (MSMEs) make up 97.4 per cent of all businesses in Malaysia. In 2023, this sector contributed over RM631.1 billion to our GDP and RM152.2 billion to exports. Most proudly, it created over seven million jobs for Malaysians.
"Yet, despite this strength, our MSMEs still face three main challenges, namely, limited access to capital, weak competitiveness, and barriers to scaling up.
"That's why BRAVE was created – as a high-impact catalyst.
"First, BRAVE offers alternative financing of up to RM1 million for high-performing Bumiputera companies at a profit rate of just 3.5 per cent.
"Second, it provides holistic capacity development to help businesses not just survive, but also excel.
"I've been informed that 15 companies will be selected for the initial phase.
"Out of these, five will undergo intensive mentoring to prepare for listing on Bursa Malaysia by the end of 2025.
"My goal is for at least two Bumiputera companies to be successfully listed on Bursa this year," he said.
He said the initiative must be supported with discipline and commitment, including strategic training on investor relations, corporate communications, post-IPO growth strategies, and the preparation of prospectuses.
"With strategic partnerships involving industry players like SIDC, Deloitte and MTDC, I believe we can chart a new path of success not just for these companies, but for the entire Bumiputera ecosystem," he said.
He said that out of the 945 companies listed on Bursa Malaysia as of 2022, only 62 or 7 per cent, are majority Bumiputera-owned.
Even more concerning, he said, was that in the past four years, only one Bumiputera company had been listed, compared to 96 non-Bumiputera companies.
He said BRAVE should have a clear direction over the next five years.
"BRAVE 2030 must become a national movement that delivers at least five to 10 newly listed Bumiputera companies on Bursa Malaysia," he said.
He outlined three strategic directions for BRAVE over the next five years, nsmely, ensuring that companies are mentally prepared to take risks and remain resilient in open markets; transforming their business models through digital technology, AI and automation; and establishing a unified platform for all stakeholders while providing a clear, tiered and trackable roadmap for any company aiming to go public.
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