SC chairman Datuk Seri Awang Adek Hussin
KUALA LUMPUR: The Securities Commission Malaysia (SC) will introduce a Venture Capital (VC) Golden Pass to streamline the registration process with SC for eligible international VCs setting up in Malaysia.
SC chairman Datuk Seri Awang Adek Hussin said under this purview, the commission will introduce a green lane process to expedite VC registration from the current six weeks to two weeks, subject to the fulfilment of stipulated requirements under the SC’s Focused Scope Assessment framework.
"As part of our comprehensive developmental plan, we are looking to welcome experienced international VCs looking to establish a strong presence in Malaysia to cater to domestic and regional needs.
"We are also pleased to announce the enhancement of the vetting process towards speedier employment pass issuances to facilitate the relocation of non-Malaysian personnel,” he said during a plenary session at the KL20 Summit 2024, here today.
According to Awang Adek, as part of SC’s commitment to nurturing talent within the capital markets, the commission will also introduce a comprehensive skills development programme tailored to professionals in the VC industry and the broader Malaysian private markets.
"The Securities Industry Development Corporation (SIDC), the SC’s talent development arm, will introduce an array of capacity-building programmes,” he added.
Meanwhile, Awang Adek highlighted that the SC is in the final stages of launching a 5-year roadmap to enhance access to capital market financing for micro, small and medium enterprises (MSMEs) and mid-tier companies (MTCs).
"The roadmap contains over 30 initiatives, encompassing three key
pillars of regulatory and product innovation, market infrastructure and capacity building.
"The roadmap takes a "whole-of-nation approach”, emphasising the necessity of collaborative efforts among diverse stakeholders to unlock the full potential of MSMEs and MTCs while fostering sustainable growth and development,” he added.
The two-day KL20 Summit 2024, which commenced today at the Kuala Lumpur Convention Centre, saw Prime Minister Datuk Seri Anwar Ibrahim launching the KL20 Action Plan, a roadmap outlining reforms to achieve convergence among key stakeholders to propel Malaysia’s start-up technology sector to new heights. - Bernama
