The additional terms and conditions applicable to MyCIF participants who operate ECF platforms are set out as follows:

Subject to these terms and conditions, MyCIF will invest in ECF campaigns that are hosted on the MyCIF participants’ platforms in accordance with the following co-investment criteria:

MyCIF will invest in ECF campaigns (other than ECF campaigns described in paragraph 12(b)) based on a 1:4 ratio, in which MyCIF will invest RM1 for every RM4 successfully raised from private investors on the MyCIF participants’ platforms;

MyCIF will invest in ECF campaigns by issuers under such other specific schemes as may be announced or approved by the Government of Malaysia from time to time (“Permitted Strategic Schemes”) in accordance with the investment criteria and conditions determined by the SC. MyCIF participants may refer to MyCIF’s microsite https://www.sc.com.my/mycif for the latest information and application forms in relation to such Permitted Strategic Schemes, including the applicable investment criteria and conditions therefor. For the avoidance of doubt, ECF issuers will be entitled to MyCIF co-investments under the Permitted Strategic Schemes only upon successful applications to be admitted thereto, as submitted by the respective MyCIF participants on behalf of the ECF issuers;

MyCIF’s maximum investment in each ECF Issuer (together with any of the ECF Issuer’s related corporations) is limited to RM1 million. The term “related corporations” in these terms and conditions has the meaning as defined in section 7 of the Companies Act 2016; and

As and when an ECF campaign fulfills the co-investment criteria in accordance with paragraph 12, the MyCIF participant shall submit an application to the MyCIF secretariat in writing for the disbursement of the MyCIF co-investment into the ECF campaign. The MyCIF participant must provide all of the information as prescribed by the SC in the disbursement application form, and such other information as may be requested by the SC.

Without prejudice to the generality of paragraph 7, the MyCIF secretariat reserves the right to reject any application for investments into an ECF campaign notwithstanding that the co-investment criteria in paragraph 12 has been fulfilled if:

more than one-thirds of the total funds raised by private investors comprises investments from any one or more of the following persons:

(Founder(s) of the ECF Issuer, persons associated with the founder(s) of the ECF Issuer and persons associated with the ECF Issuer are hereinafter referred each as “Associated Person”, and collectively “Associated Persons”).

The reference to “persons associated” in these terms and conditions will be construed in the same manner as provided under section 3 of the Capital Markets and Services Act 2007.

In this regard, the MyCIF secretariat may require the ECF participant to submit information on the breakdown of investments raised from Associated Persons, including information on the identity of the Associated Person, the Associated Person’s relationship with the ECF Issuer or founder(s) of the ECF Issuer, and amount of total ECF investments in the ECF Issuer by the Associated Person. MyCIF participants must therefore have in place processes and procedures to ensure that investments of any Associated Persons may be duly identified and accurately disclosed to them to assess the eligibility of such ECF Issuer for MyCIF co-investment;

MyCIF is not provided with an express option to divest its investments in the ECF Issuer in consideration for cash at the earliest exit opportunity, where this is feasible to the ECF Issuer (“Option”). The ECF Issuer must express the Option in the relevant agreement(s) or record setting out the rights and obligations of the shareholders of the ECF Issuer. For the avoidance of doubt, “exit opportunity” includes any initial public offering or restructuring exercise to facilitate an initial public offering, merger, or sale or transfer of some or all of the shares in the ECF Issuer including share swaps.