The government has offered up to RM16.7 billion funds for small and medium enterprises (SMEs) from Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) in the form of government guarantee schemes.
SJPP principal officer Dr Nungsari Ahmad Radhi said the company has RM16.7 billion from its RM30 billion financing budget allocated by the government since 2009.
“We have used up to RM13 billion for three schemes which were closed in stages in 2009, 2010 and 2015 respectively.
“The remaining five schemes — which have a 13-year tenure — expire in 2030 and comprise the remaining RM16.7 billion,” he said, adding that all schemes have at least 70% guarantee from the government.
SJPP chairman Tan Sri Dr Mohd Irwan Serigar Abdullah said to date, 11,339 SMEs have benefitted from the various schemes under SJPP.
“SJPP has been able to manage these guarantees at low guarantee fee rates of between 0.5% and 1% — which will go a long way in bringing down the cost of financing to the SMEs.
“Under Budget 2018, more than RM9 billion in government guarantees have been allocated under SJPP for the SMEs and will be channelled via five schemes,” Mohd Irwan — who is also Treasury secretary general — said.
The schemes include the Working Capital Guarantee Scheme (WCGS), which will be extended by an additional RM5 billion, as well as a WCGS for startups at RM200 million.
“Besides that, the government will extend the Services Sector Guarantee Scheme to RM2 billion.
“As for the new schemes, we are introducing the Automation Process Guarantee Scheme for RM1 billion and the Intellectual Property Guarantee Scheme (IPGS) for RM1.5 billion,” he said at the launch of the schemes yesterday.
Speaking on the IPGS, Mohd Irwan said it was aimed at addressing financing difficulties faced by startup companies, universities and research organisations in developing intellectual properties.
“We need to do a lot of promotions. We are engaging with the banks to promote this product and we hope the banks will be open to the IPGS financing scheme,” he said.