Malaysian Govt approves MYR1.366B loans under SME initiative of PENJANA

KUALA LUMPUR (BERNAMA) – The Malaysian Government has approved a total of 7,266 applications for MYR1.366 billion in loans under the Small and Medium Enterprises (SMEs) initiative of the National Economic Regeneration Plan (PENJANA) as of March 19.

Malaysian Finance Minister Zafrul Abdul Aziz said the government had allocated MYR2 billion under the programme, which gave priority to SMEs that had never received a loan from a bank before.

As of March 26, the Bumiputera Relief Financing (BRF) fund introduced by Perbadanan Usahawan Nasional Bhd (PUNB) has been channelled to 749 SMEs involving a total of MYR226.8 million compared to 675 SMEs with a total of MYR195.2 million the previous week.

For the SME Soft Loan Fund operated by Bank Negara Malaysia (BNM), a total of MYR11.82 billion has been approved and will benefit 24,921 SMEs.

“This amount includes the Special Relief Facility (SRF), Automation and Digitalisation Facility (ADF), All Economic Sectors (AES) Facility and Agrofood Facility (AF) funds.

Malaysian Finance Minister Zafrul Abdul Aziz. PHOTO: BERNAMA

“Even though the SRF fund has been fully dispensed, SMEs can still apply for available financing schemes through BNM funds such as ADF, AES and AF,” he said when presenting the 48th National Inter-Agency Economic Stimulus Implementation and Coordination Unit (LAKSANA) report yesterday.

Meanwhile, as of March 26, the PENJANA Tourism Sector Financing has approved 308 applications out of a total of 626 applications, with a total funding of MYR61.9 million.

He said that for the Technical and Digital Consumption for SMEs and Companies at the Middle Level (MTC), a total of MYR55.5 million was channelled to 12,476 businesses in the form of grants and loans for subscriptions to digitisation services as of March 26.

As for the CENDANA initiative, a total of MYR2.43 million was channelled to 441 recipients comprising artists, collectives and organisations actively involved in the Malaysian arts and culture sector.

Tengku Zafrul also urged small traders and micro entrepreneurs to apply for the Geran Khas Prihatin (GKP) 3.0.

On March 17, Malaysian Prime Minister Muhyiddin Yassin announced GKP 3.0 under the Strategic Programme to Empower the People and the Economy (PEMERKASA) initiative where each eligible micro-enterprise and SME will receive one-off assistance of MYR1,000.