Khazanah Seeks More Startups To Scale Via Dana Impak After Skyechip Success
By Karina Imran & Nabilah Saleh
KUALA LUMPUR, Aug 24 (Bernama) -- Khazanah Nasional Bhd has seen strong participation from venture capital players in SkyeChip Bhd’s growth and hopes more Malaysian start-ups will take similar steps to scale and tap funding opportunities under its Dana Impak programme.
Khazanah Nasional managing director Datuk Amirul Feisal Wan Zahir said the SkyeChip experience highlighted how venture capital backing can help early-stage companies expand before attracting further institutional support.
He said Khazanah hopes SkyeChip’s success will attract more venture capital participation.
“We saw a lot of venture funds, and, as a result, the company grew,” he told Bernama when visiting the national news agency’s headquarters last Thursday.
Amirul Feisal said that just before SkyeChip’s initial public offering (IPO), Khazanah took a direct stake to become a cornerstone investor and help the company to have a successful IPO.
He said Khazanah’s assistance came through the Dana Impact programme and was not a one-time occurrence.
He was received by Bernama chief executive officer Datin Paduka Nur-ul Afida Kamaludin, editor-in-chief Arul Rajoo Durar Raj, Bernama News Services deputy editor-in-chief Mohd Shukri Ishak, and Economic News Service deputy editor-in-chief Harlina Samson.
SkyeChip is a fabless integrated circuit (IC) design company specialising in silicon intellectual properties (IPs) and silicon products, and it made an impressive debut at RM3.50 on the Main Market of Bursa Malaysia recently, surging RM2.62, or 297.7 per cent, above its initial public offering (IPO) price of 88 sen.
Prior to its listing, the company’s IPO drew an overwhelmingly positive response from retail investors, with 74,453 applications received for 3.45 billion shares under the Malaysian public tranche, translating to an oversubscription rate of 95 times.
SkyeChip raised RM352 million from its IPO exercise.
Amirul Feisal said broader participation across the ecosystem would be key to enabling more companies to follow and benefit from a similar growth trajectory.
Commenting on sectors with strong potential, he pointed to semiconductors, currently driven by rising global demand for artificial intelligence (AI)-related technologies.
“The semiconductor sector is one which has a lot of potential, obviously, especially when you have the whole world looking at the need to improve their AI equipment, machinery, et cetera.
“Now, that’s one particular sector, but I think it doesn’t stop there. For example, we look at so many innovations, whether it’s robotics or agri-technology. There are many other areas where the country, as well as the whole world, needs improvement,” he said.
On Khazanah’s role, Amirul Feisal said the fund acts as a catalyst alongside other government-linked investment companies (GLICs), supporting companies from early stages through to potential listings.
“We go in with venture capital players, and then hopefully other investors can come in at a later stage,” he said.
Amirul Feisal explained that Khazanah’s early-stage programmes are designed to attract more emerging and regional fund managers into Malaysia and provide more seed capital into mid-tier companies.
“And only when there’s an opportunity for an IPO will we consider whether to go there, or perhaps some of the other GLICs will come in.
“But our role is to build a strong ecosystem,” he added.
-- BERNAMA