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Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) and the Companies Commission of Malaysia (“SSM”) today signed a Memorandum of Understanding (“MoU”) to undertake a 3-year collaboration with three core initiatives to benefit SME in the Malaysia economy.
The framework of the MoU includes to jointly explore commercial opportunities for both Bursa Malaysia and SSM that support corporate Malaysia’s digital economy growth aspiration, as guided by the Malaysia Digital Economy Blueprint (“MyDigital”); Data-sharing between Bursa Malaysia and SSM for in-depth analytics that provide greater strategic decision-making insights for businesses as encouraged by the National Data Sharing Policy (“NDSP”); and Driving the Environmental, Social and Governance (“ESG”) agenda for Malaysian business ecosystem with impactful programmes.
The new collaboration will be to leverage the combined potential of Bursa Malaysia's and SSM's datasets to build a first-of-its-kind data ecosystem that supports Malaysia's socio-economic development agenda. The platform, comprising datasets of corporate Malaysia from both small-medium enterprises and public listed companies, will facilitate the development of in-depth meaningful analytics and solutions for the fund-raising community in the capital market, as well as the business community at large.
Driving the ESG agenda, Bursa Malaysia and SSM will work together to encourage corporate Malaysia to focus on improving disclosures and access to capital through ESG best practices in respective industries. Public listed companies (“PLCs”) from financial institutions to manufacturing businesses can act as catalysts of the Malaysia’s economy to improve data and transparency in their supply chain.
“The MoU between Bursa Malaysia and SSM today provides the Exchange a trusted partner both in terms of improving our combined data capacity, as well as the opportunity in empowering the local business community through data and information sharing.,” said Datuk Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia. “In addition to building a centralised data system that connects businesses with the funding agencies, this collaboration will allow smaller businesses to learn from best practises from larger corporations.”
“SSM has a comprehensive data bank consisting of details on information relating to company and other business entities profiles, share capital, directors, officers, shareholders, charges and financial information,” said Datuk Nor Azimah Abdul Aziz, Chief Executive Officer of SSM, and added, “through this MoU, information derived from this meaningful collaboration would be further analysed to create a holistic, inclusive and conducive data ecosystem that supports the overall Malaysia’s socio-economic development agenda, especially the SMEs that comprised of 99% of the corporate and business entities in our registries.”
