11 hopefuls for LEAP market listing so far : Tajuddin

KUALA LUMPUR: Eleven small and medium enterprises (SMEs) have engaged approved advisers to assist them with the listing process on the newly launched Leading Entrepreneur Accelerator Platform (Leap) Market.

The 11 potential issuers are Cloudaron Pte Ltd, Agrofresh International Group Sdn Bhd, Red Ideas Holdings Sdn Bhd, Polymer Link Sdn Bhd, Trustgate Bhd, Accent Wellness Global Sdn Bhd, East West One Group Sdn Bhd, Macfeam Sdn Bhd, Upstream Downstream Process & Services Sdn Bhd, ProEight Sdn Bhd and Safetyware Sdn Bhd.

Bursa Malaysia Bhd CEO Datuk Seri Tajuddin Atan said the listing process is expected to take three to four months on average, and hopes to see the first two listings on the new market this year.

The Leap Market, which was launched today at Invest Malaysia Kuala Lumpur 2017, aims to provide SMEs with an alternative and efficient fund raising platform and visibility through the capital market.

"It is designed to address the funding gap for SMEs and make it easier for them to take their businesses to the next level through raising funds in the capital market. It also provides investors with a new investable asset class. The availability of such a platform would further aid the development of SMEs and support broader economic activities," said Tajuddin.

Bursa Malaysia also exchanged memorandum of understanding (MOU) documents with four strategic partners namely Malaysia Digital Economy Corp, Malaysia Technology Development Corp, SME Corp and Unit Peneraju Agenda Bumiputera.

These strategic partners will provide support in the identification of potential SMEs to be listed on the Leap Market as well as collaborate to jointly develop the SME financing eco-system and capacity building.