RM30 mln matching grant to be invested on ECF

KUALA LUMPUR: The government will be allocating RM30 million through matching grants to be invested on Equity Crowd Funding (ECF) platforms under the supervision of the Securities Commission.

“To encourage more individual investors to take part in financing through the ECF platform, income tax exemption of 50 per cent of the investment amount, or limited to 50 thousand ringgit will be given,” said Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz when tabling Budget 2021 in the Parliament here, today.

Equity Crowd Funding or ECF is one of the alternative financing methods, especially for technology start-ups.

-- BERNAMA