PETALING JAYA: The Malaysian Investment Development Authority (Mida) is encouraging local businesses to learn, evaluate and consider raising capital through the public and private markets, as well as equity crowdfunding.

       Mida director of domestic investment division, Sukri Abu Bakar said the agency has been working with local regulators, technology providers and financial institutions to drive business growth by facilitating business support services to small and medium enterprises (SMEs) and small and medium industries (SMIs).

       He said this would be crucial towards promoting domestic direct investments and driving significant economic growth.

       “Through Mida’s proprietary services, we have enabled various scales of local businesses, including SMEs and SMIs. Mida’s Domestic Investment Coordination Platform (DICP) aims to bridge businesses, technologies and research capability with capital funding sourced from the public and private markets,” he said in a statement in conjunction with its inaugural seminar series on “Business growth through the Malaysian capital market.

       ”Mida, through its DICP with Bursa Malaysia and Capital Markets Malaysia (CMM), an affiliate of the Securities Commission, started the seminar yesterday. It was jointly organised with Invest Negri Sembilan and attracted 35 companies from Negri Sembilan and Melaka.

       Mida anticipates organising more seminars throughout the country this year.

       “This initiative is a great way to increase awareness and create better understanding among SMEs and mid-tier companies to ultimately tap the capital market through various channels, including initial public offerings,” said Bursa Malaysia director of securities market Azhar Mohd Zabidi in the same statement.