In a statement today, the SC said the initiatives reaffirmed the significant role of the capital market in supporting the post-pandemic recovery. — Picture by Farhan Najib
KUALA LUMPUR, Oct 7 — The capital market initiatives announced in Budget 2023 will complement and assist efforts to boost market confidence, encourage growth and catalyse private sector investment in the economy, said the Securities Commission of Malaysia (SC).
In a statement today, the SC said the initiatives reaffirmed the significant role of the capital market in supporting the post-pandemic recovery.
SC chairman Datuk Seri Awang Adek Hussin said the establishment of the graduate talent programme will help to champion the building of a sustainable skilled talent pipeline for the capital market, as well as contribute to nation-building and address the talent deficit.
“The talent deficit is a global phenomenon that will impact the growth trajectory of economies globally. Therefore, it is apt that Budget 2023 prioritises the boosting of the talent pool across various economic sectors,” he said.
The SC will launch a multi-year programme called the Capital Market Graduate Programme, which is funded by the Capital Market Development Fund, to build a sustainable pipeline of graduate talent for the capital market.
The programme, amounting to RM30 million over a three-year period and benefiting up to 9,000 participants, will be a private-public sector collaboration to improve the marketability of graduates in the capital market industry.
Awang Adek also noted the additional RM30 million allocated to the Malaysia Co-Investment Fund (MyCIF) will further support the funding needs and catalyse the growth of micro, small and medium enterprises (MSMEs).
“Budget 2023 will also support and strengthen the contribution of women in both the public and private sectors, with the establishment of a public-private partnership to provide a structured training programme for women talent,” he said.
Other key measures provided by the government is an income tax deduction for home-grown technology-based companies and SMEs seeking a listing on Bursa Malaysia’s LEAP and ACE markets, of up to RM1.5 million for selected listing fees from the year of assessment 2023 (YA2023) to YA2025. — Bernama