Bernama – Malaysia needs more startups and tech companies listed on Bursa

KUALA LUMPUR, April 22 (Bernama) — With the majority of Malaysian companies still in traditional sectors, the number of startups and high-tech companies preparing to list on Bursa Malaysia is limited. Economy Minister Rafizi Ramli said.

He said that although Malaysia is a global exporter and has strengths in the electrical and electronics industry, only 4-5% of high-tech companies are listed on the local stock exchange.

“It’s unfortunate because the country is globally recognized as one of the most important semiconductor players in the world,” he said at the KL20 Summit 2024 session, “From Malaysia to the World, Opening Technology Businesses to the World” held here today. It was stated in “It’s hard to understand.”

Mr Rafiji said that to strengthen Malaysia’s business ecosystem, there needs to be a pipeline of high-tech companies and startups that are ready for listing.

“Achieving this will shift the focus of governments from funding and intervention to regulation and ecosystem development to establish a sustainable high-value economy,” he said.

He stressed that the government’s interest goes beyond financial investment in startups, and instead seeks early success stories to attract technology talent from around the world to Malaysia.

Meanwhile, Khazanah Nasional managing director Datuk Amirul Faysal Wan Zahir suggested ensuring availability and continuity of capital to alleviate concerns among start-ups.

“(So) this is our role. We have an investment mission and a developmental nature.

“We operate with a long lead time in terms of returns, which allows us to bring in partners who can take on greater risk and explore the entire ecosystem,” he said. Stated.

Kuok Meng Xiong, managing partner at K3 Ventures, echoed Amirul’s sentiments, arguing that ensuring continuity of capital fosters a culture of risk-taking.

“I believe that Malaysia is not only an interesting market, but if we can address the capital issues, we can foster a risk-taking culture that can have great outcomes for the people here,” Kuok said. added.

–Bernama



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