The fund will provide the necessary financial aid and help to build future capital market talent, SC chairman Awang Adek Hussin said in his keynote speech at the Malaysian Investment Banking Association (MIBA) annual dinner last night.
Prime Minister Anwar Ibrahim is set to launch the fund before the end of the year.
“This initiative (the fund) forms part of the Malaysian capital market’s contribution towards the national agenda of a more inclusive Malaysia,” Awang Adek said, according to Bernama.
He urged MIBA and its members, together with the Association of Stockbroking Companies Malaysia, Malaysian Association of Asset Managers, Bursa Malaysia and public-listed companies to contribute generously.
He also called on MIBA members to work together to reinvigorate the market, and this involved participating in numerous efforts aimed at including a larger segment of society in the market.
Awang Adek also said the SC, via the capacity building programme investED, planned to reach out to 9,000 university students through nationwide career talks and fairs. This would enable 2,400 university students and graduates to take capital market introductory foundation programmes.
“The investED programme is one of our more important initiatives that can groom the graduates to be employable.
“The objective is to prepare 600 young graduates through the leadership programme, which includes six-month job placements in various industries,” he said.
The SC has also come up with various initiatives to improve the state of the market, including reducing stamp duties and board lot size, as well as enabling fractional share trading.
The SC’s other initiatives include widening the funding base to include financing for micro, small, and medium-sized enterprises, as well as larger businesses and allowing dual-class shares on Bursa.
“We also intend to ease the process for companies wanting to list. This includes expediting the initial public offering process, reducing time-to-market and enabling an automatic promotion mechanism for the ACE Market to the Main Market for eligible public-listed companies,” he said.