Saturday, September 18

MTDC identifies 11 companies for LEAP Market next year


Norhalim (second right) exchanging documents with Rohaizad (second left) after signing a document during the signing ceremony yesterday. Also present were MTDC director of corporate services division Mohammad Farish Nizar Othman (right) and KAF Investment deputy chief executive officer Thariq Usman (left). — Bernama photo

KUALA LUMPUR: The Malaysian Technology Development Corporation Sdn Bhd (MTDC) has identified 11 companies with potential to be listed on Bursa Malaysia’s Leading Entrepreneur Accelerator Platform (LEAP) Market next year.

Chief executive officer Datuk Norhalim Yunus said the identification process would be conducted together with KAF Investment Bank Bhd which would act as the adviser, following a memorandum of understanding (MoU) signed between the two parties here yesterday.

“The 11 companies are recipients of our Business Expansion Fund and we will assess their qualification for listing under this strategic cooperation with KAF Investment,” he told a press conference after the signing of the MoU here yesterday.

On the initial public offering (IPO) market, KAF Investment chief executive officer Rohaizad Ismail said the market was pretty quiet this year due to the stringent qualifying requirements for listing.

However, he said it (IPO) may be better next year with the existence of the LEAP Market which was launched in July.

When LEAP was launched, MTDC was named as one of Bursa Malaysia’s strategic partners in identifying potential small-and-medium enterprises (SMEs) to be listed on the new market and to jointly develop the SME financing ecosystem and capacity building.

Meanwhile, KAF Investment’s qualified professionals would be able to assist MTDC’s fund recipients in embarking on a listing exercise on LEAP Market and the established ACE and Main Markets of Bursa Malaysia.

Norhalim also said MTDC approved RM312.3 million in loans to 106 companies between 2016 and 2017.

“For next year, we are targeting to approve RM100 million in loans via six of our funds,” he added. — Bernama