The Securities Commission Malaysia (SC) and Bursa Malaysia proposed enhancements to the LEAP Market, naming the upgrade LEAP Market 2.0, to broaden fundraising access for micro, small and medium enterprises (MSMEs) and mid-tier companies (MTCs) in Malaysia on May 18, 2026 [1].
The initiative aims to strengthen the platform, allowing smoother fundraising transitions from private to public markets for smaller and mid-tier firms [1, 2]. SC chairman Datuk Mohammad Faiz Azmi said, "It reinforces our funding escalator, lowering costs, while improving access to growth capital through a more facilitative regulatory environment" [1]. He added that "Malaysia has a strong pool of addressable candidates for capital market fundraising with approximately 8,500 MTCs. The proposal enables a visible and smoother listing pathway for MTCs and MSMEs" [2].
LEAP Market 2.0 builds on the framework supporting equity crowdfunding (ECF) and venture capital (VC)/private equity (PE) backed companies. Under the proposal, eligible ECF issuers with established fundraising records may list without appointing an approved adviser; instead, ECF platforms or VC/PE operators act as listing agents who provide education and training to prepare companies for public markets [2].
Other proposed features include simplified disclosure requirements, broader investor participation, share-based payments to advisers, and a seamless transfer mechanism from LEAP Market to the ACE Market [1, 2]. To date, one ECF issuer has transitioned to the LEAP Market, while 10 LEAP Market-listed companies have moved on to the ACE Market [1, 2].
Bursa Malaysia CEO Datuk Fad'l Mohamed highlighted the enhancements as building on LEAP Market's role as an entry point into public markets for MSMEs and MTCs [1]. Maybank supports 70% of SMEs with digital tools tailored to different growth stages across micro, retail, and manufacturing businesses [1].
The LEAP Market 2.0 proposal aligns with the SC's Capital Market Masterplan 2026-2030 and its Catalysing MSME and MTC Access to the Capital Market: Five-Year Roadmap (2024-2028) [1, 2]. The initiative was initially announced by Finance Minister II Datuk Seri Amir Hamzah Azizan in March 2026 before being officially proposed in May 2026 [2, 1].
