Finance Minister Lim Guan Eng hopes SJPP can help more SMEs with the launch of the new schemes.
Wholly owned by the Minister of Finance Incorporated, SJPP currently runs four guarantee schemes worth RM20.5 billion and approved RM5.8 billion worth of financing for 4,948 SMEs last year. The RM1 billion Working Capital Guarantee Scheme for exports is aimed at encouraging Malaysian SMEs to expand abroad while the second is a RM500 million Working Capital Guarantee Scheme for women entrepreneurs – a first by SJPP.
Lim also announced initiatives to further reduce the cost of financing for SMEs by increasing the guarantee coverage for the Working Capital Guarantee Scheme – Bumiputera from 70% to 80%.
Source: News Formal (newsformal.com)
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