KUALA LUMPUR: Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP), a company wholly-owned by Minister of Finance Inc, has a RM20.5 bil guarantee scheme allocation remaining to support the growth of SMEs in the country.
Principal officer Chen Yin Heng said last year, SJPP had approved RM5.8 bil in financing to SMEs under its programmes, of which RM4 bil were guaranteed by the government, an improvement from the RM3.7 bil financing with RM2.6 bil guaranteed by the government in 2018.
“Since our inception in 2009, SJPP has enabled the participating financial institutions to make available RM33.5 bil of financing to the sector, benefiting 19,843 SMEs.
“We have RM20.5 bil remaining which is sufficient to provide opportunities for SMEs to grow under this guarantee scheme,” he told a press conference after the launch of the Budget 2020 – Government Guarantee Schemes for SMEs by SJPP here today.
Chen said non-performing loans currently stand at 3% which he described as a marginal cost to the government.
At the event, SJPP launched two new guarantee schemes, the Working Capital Guarantee Scheme for exports worth RM1 bil to encourage SMEs to expand abroad, and the RM500 mil Working Capital Guarantee Scheme for women.
The guarantee coverage for these new schemes has been set at 80% with a guarantee fee of 0.75% a year. – Jan 21, 2020 Bernama
