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Pemerkasa: Facilities increased for SMEs and co-ops

With this addition the facility provided by Bank Negara for SMEs stands at RM6bil.
A fund totalling RM200mil under the Malaysian Industrial Development Finance (MIDF) is available for financing the development of automation, digitalisation and the usage of green technology. MIDF will also lower their interest rates from 5% to 3% for a period of 12 months effective April 1,2021, he said.
Apart from that, Muhyiddin added that an additional allocation of RM50mil for the Smart Automation Grant under Malaysian Investment Development Authority (Mida) will be provided to enable more SMEs and mid-tier companies to enhance operational and manufacturing efficiencies through high-tech processes. ....

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BNM allocates additional RM700 mil for SME automation, digitalisation facility

KUALA LUMPUR (March 17): Bank Negara Malaysia (BNM) has announced an additional allocation of RM700 million for the SME Automation and Digitalisation Facility (ADF), bringing the facility’s total allocation to RM1 billion.
The ADF, which was established in March 2020, aims to encourage small and medium enterprises (SMEs) across sectors to automate processes and digitalise operations to increase productivity and efficiency.
The ADF is open to all Malaysian SMEs, with a maximum financing amount of up to RM3 million per SME and financing tenure of up to 10 years.
“The financing rate is up to four per cent per annum, inclusive of guarantee fee. Guarantee coverage is provided by Syarikat Jaminan Pembiayaan Perniagaan (SJPP). ....

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PM: Pemerkasa to have five initiatives to raise Malaysia's competitiveness | Malaysia

Wednesday, 17 Mar 2021 07:35 PM MYT
BY KEERTAN AYAMANY
A man watches a live telecast of Prime Minister Tan Sri Muhyiddin Yassin s speech in Kuala Lumpur January 12, 2020. Picture by Miera Zulyana
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KUALA LUMPUR, March 17 Prime Minister Tan Sri Muhyiddin Yassin today announced five initiatives under the Strategic Programme to Empower the People and Economy (Pemerkasa) aimed at making Malaysia’s economy more competitive globally.
Muhyiddin said the initiatives would primarily increase foreign investments, strengthen global trade, boost digital technology adaptation and ensure sustainable growth.
“The 10th initiative is to strengthen the business environment. For that, the government through the Business Facilitation Special Task Force or Pemudah is always committed to make sure agile regulation is implemented to encourage domestic business reinvestment,” he said. ....

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