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Small and medium enterprises
in Malaysia can look forward to be better served
with the formation of the new SME Corporation
Malaysia (SME Corp) beginning 2 January 2009,
following a revamped of the Small and Medium
Industries Development Corporation (Smidec).
Prime Minister Datuk Seri Abdullah Ahmad Badawi,
who made the announcement as National SME
Development Council Chairman, at the opening of
Smidec Annual Showcase (Smidex 2008) and East
Asia SME Convention, said the SME Corp will
coordinate SME programmes across 18 ministries
and 60 agencies but will not take over the
functions of the various ministries and agencies
handling SME-related matters.
Entrusted to draw up policies and strategies for
the development of SMEs in the country, the new
corporation would report directly to the Prime
Minister while administratively under the
Ministry of International Trade and Industry.
SME Corp will set up branches in each state to
ensure a more effective delivery of its services
to the sector.
Meanhile from August, Malaysian small- and
medium-sized enterprises (SMEs) can breathe a
sigh of relief, as the government has announced
a RM1.2 billion fund to assist these companies
during the current challenging period.
The special financial package will comprise a
RM700 million SME Assistance Facility (SAF) and
a RM500 million SME Modernisation Facility (SMF).
SAF is to assist SMEs facing financial
difficulties, restructuring of SME loans,
engaging advisory services on cost management
and for investing in energy efficiency, while
SMF is specifically to finance modernisation of
operations and for purchase of energy-saving
equipment.
SMEs can approach any commercial and Islamic
banks, SME Bank, Agro Bank, Bank Rakyat and EXIM
Bank to apply for these two facilities. The
maximum limit under the SAF is RM1.5 million
while the SMF has a maximum limit of RM5
million, both at a 4% interest rate.
The Prime Minister said the financial assistance
scheme was aimed at encouraging SMEs to upgrade
and strengthen their abilities to increase
efficiency and productivity, in order to reduce
their cost of operations. |
