The Securities Commission Malaysia (SC) today announced that it has registered
EdgeProp Sdn Bhd (EdgeProp) as the first Recognised Market Operator to establish
and operate a property crowdfunding (PCF) platform in Malaysia, following the
revision of the SC’s Guidelines on Recognised Markets in May 2019. EdgeProp was
granted an approval in principle in September 2019.
PCF is an initiative announced in Budget 2019 to provide an alternative financing
avenue for first-time homebuyers through a property crowdfunding scheme.
Property crowdfunding offers the same potential as that of ECF and P2P financing
platforms in providing an alternative source of financing but is specifically tailored for
first-time homebuyers. At the same time, it will provide investors access to a new
investment option.
The SC would like to caution that it is an offence under the securities laws to
operate a PCF platform without authorisation from the SC. Any persons found to be
in breach may be liable to a fine not exceeding RM10 million or imprisonment term
not exceeding ten years or both.
The public may visit www.sc.com.my for the latest list of Recognised Market
Operators.
