KUALA LUMPUR (July 25): Prime Minister Datuk Seri Najib Tun Razak said Bursa Malaysia Bhd's Leading Entrepreneur Accelerator Platform (LEAP) Market aims to grow Malaysian small and medium enterprises (SMEs), which form a crucial component of the economy.

LEAP offers an alternative for SMEs to raise funds via a listing on Bursa Malaysia. Najib said Bursa Malaysia had established LEAP with the realisation SMEs formed the backbone of the nation's economy, as the segment made up 97% of businesses in the country.

“It is in line with our SME Masterplan which aims to raise the share of GDP contributed by SMEs, their numbers of employees and their volume of exports,” Najib said in his keynote address at the Invest Malaysia Kuala Lumpur event here today.

Najib had earlier launched LEAP at the event. He said LEAP was among initiatives the government had put in place in pursuit of the nation’s transformation.

Bursa Malaysia chief executive officer Datuk Seri Tajuddin Atan said LEAP aimed to provide SMEs with an alternative and efficient fund-raising platform, besides visibility in the capital market.

“The LEAP Market is an alternative capital raising platform for SMEs, which is the first of its kind in ASEAN. It is designed to address the funding gap for SMEs and make it easier for them to take their businesses to the next level, through raising funds in the capital market. 

"It also provides investors with a new investable asset class. The availability of such a platform would further aid the development of SMEs and support broader economic activities,” Tajudddin said.