Kuala lumpur: The government aims to have at least two Bumiputera companies listed on Bursa Malaysia by the end of this year. Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi announced that the Bumiputera Rapid Acceleration and Value Enhancement (BRAVE) programme, launched today, will be instrumental in enhancing the Bumiputera entrepreneurial ecosystem to achieve this goal.
According to BERNAMA News Agency, the BRAVE programme will provide alternative financing of up to RM1 million for high-performing Bumiputera companies at a competitive profit rate of 3.5 per cent. It will also introduce comprehensive capacity-building initiatives to advance companies to a higher level. Ahmad Zahid stated that in the initial phase, 15 companies will be selected, with five receiving intensive mentoring to prepare them for listing on Bursa Malaysia by year-end.
His speech, delivered by the Minister of Entrepreneur and Cooperatives Development, Datuk Ewon Benedick, highlighted the current scenario where, as of 2022, only 62 out of 945 companies listed on Bursa Malaysia were majority-owned by Bumiputeras. Ahmad Zahid emphasized the need for change, noting that only one Bumiputera company has been listed in the past four years, compared to 96 non-Bumiputera companies.
Ahmad Zahid stressed the importance of strategic training in areas such as investor relations, corporate communications, post-Initial Public Offering (IPO) growth strategies, prospectus preparation, and due diligence. He also called for strengthened collaboration with industry partners to meet the listing targets.
Additionally, Ahmad Zahid addressed the micro, small, and medium enterprises (MSMEs) sector, which accounts for 97.4 per cent of all businesses in Malaysia. In 2023, the sector contributed over RM631.1 billion to the country’s gross domestic product (GDP) and RM152.2 billion to exports, providing more than seven million job opportunities.
Despite the sector’s strength, Ahmad Zahid identified limited access to capital, low competitiveness, and constraints in scaling up as key challenges facing MSMEs. He expressed hope that the BRAVE programme would act as a high-impact accelerator for the sector.