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CGC, StanChart launch RM70mil financial facility for SMEs


CGC president/chief executive officer Datuk Mohd Zamree Mohd Ishak
KUALA LUMPUR: Credit Guarantee Corporation Malaysia Bhd (CGC) and Standard Chartered Malaysia have launched a RM70 million financial tranche to provide small and medium enterprises (SMEs) with working capital, bringing the total amount of tranches jointly launched by both parties to RM1.71 billion.
Standard Chartered is also the highest contributor among foreign banks in terms of SME financing in Malaysia.
In a joint statement, the companies said under a Portfolio Guarantee (PG) agreement, the financing facility is expected to help ease the burdens of SMEs and sustain their business as they recover from the effects of the pandemic. ....

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Tapping into export through FTAs


Star award 2
KUALA LUMPUR: Companies, including small and medium enterprises, should leverage free trade agreements such as the Regional Comprehensive Economic Partnership (RCEP) to export to countries in the Asia Pacific region, according to speakers at the first Export Excellence Awards (EEA) 2021 webinar.
RCEP, Asean’s biggest free trade agreement (FTA) to date, comprises all 10 Asean member states and five of Asean’s existing FTA partners to cover a market of 2.2 billion people with a combined size of approximately US$25tril (US$101.21 tril), which is about 29% of the world’s gross domestic product.
Its primary purpose is to serve as an overarching mechanism to facilitate free trade between the 15 countries with a single set of rules and procedures for accessing preferential tariffs. ....

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