3 January 2011
ADDITIONAL RM3 BILLION WORKING CAPITAL GUARANTEE SCHEME ALLOCATION WILL COMMENCE IMMEDIATELY
The allocation aims to assist small and medium-scaled enterprises to access financing facilities
KUALA LUMPUR: Monday [ 3 January, 2011] – To ensure that the SMEs have better access to financing facilities, the Government established the Working Capital Guarantee Scheme totalling 7 billion ringgit and the Industry Restructuring Loan Guarantee Scheme totalling 3 billion ringgit which was announced under the Second Economic Stimulus Package. The entire 7 billion ringgit under the Working Capital Guarantee Scheme (WCGS) has been approved. In view of the encouraging response to the Working Capital Guarantee Scheme, the Government will provide an additional three billion ringgit under 10MP, making it a total of 10 billion ringgit.
Prokhas Managing Director cum Principal Officer of SJPP, Fazlur Rahman Ebrahim said, "The additional allocation will provide an avenue for the small and medium enterprises (SMEs) to expand their business. With this scenario, I believe that the Government's initiative will benefit the SMEs and the people or consumers as well as the overall Malaysia's economic growth as SMEs play an important role in spearheading the economic growth of the country".
Fazlur added, "Those who are eligible and interested can submit their applications through the participating banks effective immediately".
SJPP believes that the additional allocation will obtain a good response from the customers in the related industries who are eligible to apply, as well as gaining close co-operation from participating banks, especially in promoting the guarantee scheme. For further information on the terms and conditions of the 10MP WCGS, interested applicants may contact the participating banks, or SJPP officers at 03-20965165/5263 or visit SJPP's website at www.sjpp.com.my