Alta expanding in Malaysia as it eyes country's alternative assets

By Rosemarie Khoo

KUALA LUMPUR, Dec 10 (Bernama) -- Alta Exchange (Alta), formerly known as Fundnel Technologies, is expanding its footprint in Malaysia to cover alternative assets such as real estate, commodities, and venture capital including brokerage as well as equity crowdfunding (ECF). 

Its chief executive officer (CEO) Willie Chang said the company’s decision to expand its presence here was driven by Malaysia's solid economic fundamentals, supportive regulatory framework, and continued innovation in making investment more accessible to all.

"The current financial ecosystem build and continuous upgrade in Malaysia’s regulatory framework have opened many doors for investors globally to look at Malaysia as an investment hub not only for equities but also for alternative assets. 

"Hence, we are confident with the support given by the regulators and the advancement in this sector, Malaysia will continue to grow as a hub that will not only bring in funds but also uplift the local small and medium enterprises (SMEs) that require funding to reach the unicorn level,” he told Bernama recently.

Regulators granted the digital exchange license in 2020, while Bank Negara Malaysia (BNM) is closely following through with the digital insurance license slated for next year.

Alta is registered with the Securities Commission (SC) as a recognised market operator for ECF in Malaysia.

Chang said Malaysia’s alternative assets are worth over US$7 billion, making it a significant market in the region that will attract foreign investors.

“We are excited for Malaysia and with a clear regulatory environment, and a good talent hub, we see that the opportunity in Malaysia is strong, despite concerns of a global economic slowdown,” he added. 

Explaining the opportunities that could be tapped by SMEs in Malaysia through Alta, Chang said that amid rising interest rates, fundraising is an alternative to secure cash flow.

“For many clients and small startups, without a stable and strong credit score, it would be difficult to get a loan. Combined with the increasing interest rates, some are reviewing their options as repayment can become more expensive during the economic downturn. 

“Hence, what we do here is to provide an alternative to those looking for capital investment and as we know, many current unicorns do receive their capital injection through funding.

“I believe Malaysian SMEs can do the same with less pressure on monthly loan repayments,” he added.

-- BERNAMA