Securities Commission Malaysia's Comments on Budget 2024


Kuala Lumpur, 13 October 2023

The Securities Commission Malaysia (SC) commends Budget 2024 measures, addressing fiscal policy improvements and enhancing the well-being of the rakyat. The initiatives will also create a more conducive environment for businesses to thrive.

The Budget announcements today will contribute to the country’s economic growth, under the Ekonomi MADANI framework, and further strengthen the capital market, which plays a key role in stimulating the economy through efficient capital formation and mobilisation.

Quotes by SC Chairman Dato’ Seri Dr. Awang Adek Hussin:

“The SC welcomes these measures and incentives announced today. These initiatives demonstrate the government’s commitment to fostering economic growth and encouraging sustainable and responsible investments in Malaysia.”

“We are also encouraged by measures to spur a more vibrant ecosystem to encourage entrepreneurship in Malaysia. The allocation of RM100 million to the Malaysia Co-Investment Fund’s (MyCIF) initiatives over the next three years and tax incentives for the equity crowdfunding (ECF) market will stimulate investment into promising startups and small businesses.”

“In balancing the need to broaden the tax base, as well as supporting the fundraising needs for corporations of all sizes, we are grateful that the government has considered targeted exemptions on Capital Gains Tax (CGT) impositions on activities relating to approved IPOs and Venture Capital. This would ensure continued fundraising activities in the capital market.”

“The extension of tax incentives on Sustainable and Responsible Investment (SRI) Sukuk and SRI Funds will encourage greater growth in these segments, and further strengthen the role of the capital market in facilitating businesses and investors to participate in sustainable financing and investment.”

Securities Commission Malaysia

about the SC
The Securities Commission Malaysia (SC) was established on 1 March 1993 under the Securities Commission Act 1993 (SCA). We are a self-funded statutory body entrusted with the responsibility to regulate and develop the Malaysian capital market.

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