Bursa Malaysia Berhad, in collaboration with the Companies Commission of Malaysia (SSM), announced the launch of the SME X Platform today.
This innovative platform, stemming from a memorandum of understanding signed at the end of 2022, aligns with the National Data Sharing Policy (NDSP) to bolster strategic business decision-making through enhanced data analytics.
The SME X Platform is specifically designed to aid Small and Medium Enterprises (SMEs) in their growth and expansion efforts by connecting them with potential capital providers.
These include private equity firms, venture capitalists, and other financial institutions interested in investing in financially sound and growth-oriented companies.
Datuk Muhamad Umar Swift, CEO of Bursa Malaysia, emphasized the Exchange’s commitment to market growth and stakeholder service enhancement through data and technology innovations.
“The SME X Platform is a key part of our strategy to assist companies in raising funds for growth,” he said.
The Platform aims to bridge the gap between companies seeking funds and entities with capital to invest, facilitating equity through Initial Public Offerings (IPOs), debt fundraising through BR Capital, and other financial avenues.
Datuk Nor Azimah Abdul Aziz, CEO of SSM, highlighted the integration of the Corporate Business Information Data (CBID) into the Platform. The CBID includes over 650,000 company records and financial data from approximately 200,000 high-revenue companies over the past three years.
This integration marks a significant step towards a robust company data ecosystem, offering current and valuable insights for informed decision-making.
Wong Chiun Chiek, Director of Bursa Intelligence, noted Bursa Malaysia’s extensive data acquisition efforts.
The Exchange’s data repository now includes capital market data, private entity data (in collaboration with SSM), macroeconomic insights (in partnership with the Department of Statistics Malaysia), and its Centralised Sustainability Intelligence platform, which consolidates Environmental, Social, and Governance (ESG)-related data.
“We are constantly seeking strategic collaborations to innovate and support our stakeholders,” Wong added.
The SME X Platform provides a comprehensive blend of market data from Bursa Malaysia and SSM, offering insights into sectorial performance, financial evaluations, potential listing indicators, and comparative analyses within sectors.
It also includes detailed information on company directors, management, shareholding structures, and key financials, providing a deeper understanding of each company’s financial standing, subsidiaries, and affiliated entities.
Currently in its initial roll-out phase, the SME X Platform is available on a subscription basis, marking a new era in SME fundraising and investment decision-making in Malaysia.
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