WITH over 1,000 companies under its wings in the country, Bursa Malaysia has committed to assisting some 100 companies from Penang in raising capital and ensuring business sustainability.
Bursa Malaysia chief executive officer Datuk Muhamad Umar Swift said he recently visited several companies in Penang, especially in Seberang Perai, seeking capital for their businesses.
“Over the past five years or so, my aim has been to reach out to companies, particularly micro, small and medium enterprises (MSMEs), looking to expand their businesses.
“We try to understand their needs. If they need an exchange, we are ready to assist. If it’s a bank that they wish to associate with, we will certainly introduce them to one that best suits their need. If they need a private equity fund, we can help them in that area too.
“It is what these businesses need to stay relevant and grow in their respective industries.
“Our focus is also on future-oriented companies, such as those with a long history and a long-term vision,” Umar said during his courtesy call on Chief Minister Chow Kon Yeow in Komtar today.
While Bursa Malaysia has established a connection with the Malaysia Semiconductor Industry Association (MSIA), Chow has urged Umar to also build ties with InvestPenang to explore potential areas of collaboration.
Chow highlighted concerns among the local companies, particularly MSMEs, regarding cost and supply chain disruptions.
“Amidst these ongoing issues, Bursa Malaysia can a play pivotal role in alleviating funding concerns and creating a sense of security for these businesses,” Chow added.
Chow also spoke about the state’s plans to establish an integrated circuit (IC) design park in the future.
Story by Kevin Vimal
Pix by Adleena Rahayu Ahmad Radzi