The platform, called SME X, connects them with capital providers such as private equity firms, venture capitalists and other financial institutions.
SME X enhances decision-making for financial institutions and investment entities by offering a blend of Bursa Malaysia market data and data from the Companies Commission of Malaysia (SSM).
Bursa Malaysia Securities Bhd CEO Muhamad Umar Swift said the platform supports a key imperative of the exchange to help companies raise funds for growth and expansion.
“The idea for Bursa Malaysia and SSM to develop SME X emerged when we recognised the potential that harnessing data analytics capabilities can have on (efforts to) increase the contribution of SMEs in our economy,” he said at the launching of SME X today.
He said the platform can help in the growth of SMEs in their journey towards a listing on the market.
“This further contributes to the development of Malaysia’s economy,” he said.
“With the platform, we are helping to narrow the gap between quality companies that need to raise funds with parties that have the capital to deploy in the form of equity through initial public offering, debt fundraising through BR Capital, private entities, among others,” he added.
SSM CEO Nor Azimah Abdul Aziz said that through SME X, the commission has contributed over 650,000 pieces of information on the financial data of 200,000 companies that have recorded high revenue in the past three years.
Bursa Intelligence director Wong Chiun Chiek said the repository provides data on the capital market, fund flows, private entities and macroeconomics insights in collaboration with the statistics department.
Wong said data is also derived from Bursa Malaysia’s centralised sustainability intelligence platform that consolidates environmental, social and governance-related data.
“This is all hosted on our newly deployed enterprise data platform,” he added.
SME X is the product of an agreement struck between Bursa Malaysia and SSM in 2022 with a view to enhance data analytics for strategic business decisions in line with the national data sharing policy.