Latest news with #BumiputeraRapidAccelerationandValueEnhancement
The Star
28-07-2025
- Business
- The Star
Two Bumiputera companies targeted for Bursa Malaysia listing by year-end
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 said the Bumiputera Rapid Acceleration and Value Enhancement (BRAVE) programme launched today will be a game-changer in building and boosting the Bumiputera entrepreneurial ecosystem towards achieving that target. He said BRAVE would offer alternative financing of up to RM1 million for high-performing Bumiputera companies at a competitive profit rate of just 3.5 per cent, in addition to introducing comprehensive capacity building initiatives to help companies advance to a higher level. "A total of 15 companies will be selected in the initial phase, and from that number, five will receive intensive mentoring to prepare them for listing on Bursa Malaysia by the end of this year," he said in a speech at the launch of the BRAVE programme at the Parliament building here today. His speech was delivered by the Minister of Entrepreneur and Cooperatives Development, Datuk Ewon Benedick. Ahmad Zahid, who is also the Minister of Rural and Regional Development, noted that as of 2022, out of a total of 945 companies listed on Bursa Malaysia, only 62, or just seven per cent, were majority-owned by Bumiputeras. "More concerning is that over the past four years, only one Bumiputera company has been listed compared with 96 non-Bumiputera companies. This reflects an urgent reality; we cannot remain complacent with the 'status quo' but must step out of our comfort zones and create change. "To achieve this target, strategic training in areas such as investor relations, corporate communications, post-Initial Public Offering (IPO) growth strategies, prospectus preparation, and due diligence must be carried out meticulously, alongside strengthened collaboration with industry partners,' he said. Meanwhile, touching on micro, small, and medium enterprises (MSMEs), Ahmad Zahid said the sector currently accounts for 97.4 per cent of all businesses in Malaysia. In 2023, this sector contributed over RM631.1 billion to the country's gross domestic product (GDP) and RM152.2 billion to exports, and most importantly, provided more than seven million job opportunities. "However, despite this strength, our MSMEs are still plagued by three key challenges - limited access to capital, low competitiveness, and constraints in scaling up,' he said. He expressed hope that the BRAVE programme would also serve as a high-impact accelerator or catalyst for the sector. - Bernama
The Sun
28-07-2025
- Business
- The Sun
Two Bumiputera firms targeted for Bursa Malaysia listing by year-end
KUALA LUMPUR: The government is targeting at least two Bumiputera companies to be listed on Bursa Malaysia by the end of this year. Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi revealed this during the launch of the Bumiputera Rapid Acceleration and Value Enhancement (BRAVE) programme today. The initiative aims to strengthen the Bumiputera entrepreneurial ecosystem by offering alternative financing of up to RM1 million at a competitive profit rate of 3.5 per cent. Additionally, selected companies will receive comprehensive capacity-building support to prepare them for public listing. 'A total of 15 companies will be selected in the initial phase, and from that number, five will receive intensive mentoring to prepare them for listing on Bursa Malaysia by the end of this year,' Ahmad Zahid said in his speech, delivered by Minister of Entrepreneur and Cooperatives Development Datuk Ewon Benedick. As of 2022, only 62 out of 945 companies listed on Bursa Malaysia were majority Bumiputera-owned, representing just seven per cent. Over the past four years, only one Bumiputera company was listed compared to 96 non-Bumiputera firms. 'More concerning is that over the past four years, only one Bumiputera company has been listed compared with 96 non-Bumiputera companies. This reflects an urgent reality; we cannot remain complacent with the 'status quo' but must step out of our comfort zones and create change,' he said. To achieve the listing target, Ahmad Zahid emphasised the need for strategic training in investor relations, corporate communications, and IPO preparation, alongside stronger industry collaboration. On micro, small, and medium enterprises (MSMEs), he noted that the sector contributes 97.4 per cent of all businesses in Malaysia, generating RM631.1 billion in GDP and RM152.2 billion in exports in 2023. However, challenges such as limited capital access and low competitiveness persist. He hopes the BRAVE programme will serve as a catalyst for MSME growth, addressing these barriers while fostering economic inclusivity. - Bernama
The Star
28-07-2025
- Business
- The Star
Two bumiputra companies targeted for listing on Bursa this year, says Ahmad Zahid
KUALA LUMPUR: At least two bumiputra companies are targeted to be listed on Bursa Malaysia this year, says Datuk Seri Dr Ahmad Zahid Hamidi. The Deputy Prime Minister announced that 15 high-performing companies will be shortlisted under the Bumiputera Rapid Acceleration and Value Enhancement (Brave) programme, with five receiving intensive guidance as part of preparations for listing. "My hope is that at least two of these companies will make it to Bursa by the end of the year. We must aim high," he said when launching the Brave programme here on Monday (July 28). Ahmad Zahid's speech was read by Entrepreneur and Cooperative Development Minister Datuk Ewon Benedick. Ahmad Zahid noted that the Brave programme was launched to provide alternative financing of up to RM1 mil for high-performing Bumiputera companies. It will also introduce comprehensive capacity building to ensure the companies do not just stay afloat but can go a step further. "Brave is the game changer when it comes to rebuilding the Bumiputera entrepreneurship ecosystem," Ahmad Zahid said, adding this can help these companies move from just receiving aid to instead creating wealth. He acknowledged that it is not easy for a company to be publicly listed, however noting that support from the government and strategic cooperation with the private sector can make this process smoother. 'We have the tools and abilities. We only need to be brave and take the step forward. With the right strategies and open minds, BRAVE will not only create publicly listed companies but also icons that can inspire the next generation," he said. Also present was Deputy Entrepreneur and Cooperative Development Minister Datuk Seri Ramanan Ramakrishnan.
