In welcoming the Budget 2023, representing the largest SME digital financing platform in the country and in Southeast Asia, Chai Kien Poon, Country Head of Funding Societies Malaysia, remarked, “We laud the 2023 Budget crafted with responsive, responsible, and reformist policies. This comes as the Malaysian and global economies anticipate strong headwinds next year. The various grants, incentives, and assistance announced will support our small and medium enterprises (SMEs) to not only weather the challenge looming on the horizon but to thrive after the pandemic. As a key FinTech player in the nation, we look forward to continuing to support the national agenda by serving more creditworthy, underserved SMEs.”
“The additional RM30 million funding allocated to the Malaysia Co-Investment Fund (MyCIF) for ECF is a reflection of the Government’s unwavering confidence in digital financing as a major enabler for the emerging social enterprise segment and further drives the country’s sustainability agenda. Funding Societies is fortunate to be working with the Securities Commission (SC) to raise funds for qualified social enterprises under the MyCIF P2P program,” Chai continued.
“Overall, this Budget covers many critical areas. First, to provide sound support to the SMEs as we transition into the endemicity phase. Second, it encourages the participation of Malaysian youths in entrepreneurship. Finally, the Budget continues SMEs future-proofing as well as enabling wider access to capital.”
