TERAJU identifies 20 potential Bumiputera firms for Bursa Malaysia listing

The Malaysian government, through the Bumiputera Agenda Steering Unit (TERAJU), has identified between 10 and 20 high-potential, new-generation Bumiputera companies for guidance towards listing on Bursa Malaysia's ACE and Main Markets. This initiative is a key component of the Bumiputera Economic Transformation Plan 2035 (PuTERA35).

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The relevant companies will undergo a structured development process to enhance business capabilities, strengthen corporate governance, and meet public listing requirements.

Economy Minister Akmal Nasrullah Mohd. Nasir stated that these companies will undergo a structured development process to enhance their business capabilities, strengthen corporate governance, and meet public listing requirements. He emphasized the importance of this effort in narrowing the significant gap in Bumiputera participation within the nation's capital market.

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This step is important for bridging the gap in Bumiputera participation in the country's capital market, which is still at a worrying level.

Statistics reveal a concerning disparity: only one Bumiputera-majority company has been listed on Bursa Malaysia in the past three years out of 97 new listings. Furthermore, Bumiputera-owned companies constitute only about 7% of all listed entities, underscoring the necessity for a more organized and targeted strategy.

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This shows the need for a more organized and targeted approach.

To accelerate the scaling of these potential companies, TERAJU is implementing four new programs: ASCEND, ENHANCE, XCELERATE, and BSAF. These programs are designed to help companies solidify their business foundations, increase commercial value, attract private investment, and prepare for initial public offerings (IPOs). A collaboration between TERAJU and Bursa Malaysia will further support companies in meeting listing criteria, aiming to foster more competitive Bumiputera enterprises capable of regional and global expansion.

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These efforts are strengthened through a memorandum of collaboration between TERAJU and Bursa Malaysia to guide companies in meeting listing requirements.