Bursa Malaysia, SSM team up to boost support for local business community

16/11/2022 07:11 PM

KUALA LUMPUR, Nov 16 (Bernama) -- Bursa Malaysia Bhd and the Companies Commission of Malaysia (SSM) has signed a Memorandum of Understanding (MoU) to undertake a three-year collaboration with three core initiatives to benefit small and medium enterprises (SMEs) in the Malaysian economy.

The MoU framework includes jointly exploring commercial opportunities for both Bursa Malaysia and SSM that support corporate Malaysia’s digital economy growth aspiration.

Bursa Malaysia chief executive officer Datuk Muhamad Umar Swift said the MoU between Bursa Malaysia and SSM today provides the Exchange with a trusted partner both in terms of improving combined data capacity, as well as the opportunity in empowering the local business community through data and information sharing.

“In addition to building a centralised data system that connects businesses with the funding agencies, this collaboration will allow smaller businesses to learn from best practices from larger corporations,” he said in a joint statement.

The new collaboration will be to leverage the combined potential of Bursa Malaysia and SSM's datasets to build a first-of-its-kind data ecosystem that supports Malaysia's socio-economic development agenda.

The platform, comprising datasets of corporate Malaysia from both SMEs and public listed companies (PLCs), will facilitate the development of in-depth meaningful analytics and solutions for the fund-raising community in the capital market, as well as the business community at large.

Driving the Environmental, Social and Governance (ESG) agenda, Bursa Malaysia and SSM would work together to encourage corporate Malaysia to focus on improving disclosures and access to capital through ESG best practices in respective industries.

PLCs from financial institutions to manufacturing businesses can act as catalysts for Malaysia’s economy by improving data and transparency in their supply chain.




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