Four more banks agree to disburse BKSS loans

Date:

KUCHING: Four more banks have agreed to participate in the Interest Free Soft Loans facility for Small and Medium Size Enterprises (SMEs Special Relief Fund – SRF) under the Sarawakku Sayang Special Assistance package (BKSS) 2.0, bringing the number of participating banks to seven.

The new additions are CIMB Bank, Public Bank, Bank Muamalat and SME Bank. Before them were Maybank, Hong Leong Bank and RHB Bank.

Present to witness the signing and exchange of memorandum of agreement (MOA) yesterday were Chief Minister Datuk Patinggi Abang Johari Tun Openg, Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan and State Secretary Datuk Amar Jaul Samion.

Awang Tengah, who is also International Trade & Industry, Industrial Terminal and Entrepreneur Development Minister said under the scheme, a total of RM1 billion would be made available to eligible Sarawakian SMEs.

In order to qualify, registered Sarawak companies have to comply with the National SME Development Council (NSDC) SME definition and subject to the following:

• Working capital in respect to salary payment;
• Interest free loan amount is from RM20,000 to RM500,000;
• No collateral required;
• Sole proprietorship, partnership and Sdn Bhd; and
• Business in operations three years and more.

Awang Tengah told a press conference at Wisma Bapa Malaysia, eligible SMEs could apply for the loans directly from any branch of Maybank Bank, Hong Leong Bank, RHB Bank, CIMB Bank, Public Bank, Muamalat Bank and SME Bank. 

“All SMEs have an option to apply for either Islamic or conventional loans for the scheme and the interests will be absorbed by the Sarawak government,” he said.

He explained that the rate of interest will be subsidised by the government for three and a half years and would cost RM80.7 million.

“We hope this scheme can provide the much-needed relief to the SMEs during this difficult time, to sustain their businesses during this downturn, and to provide resiliency for businesses to bounce back,” he said.

As of yesterday, the total amount of loan approved under the Special Relief Fund for Sarawak amounted to over RM650 million, benefiting more than 1,700 SMEs across the state.

Sarawak government, under the stewardship of GPS government, has announced BKSS packages in three phases this year: BKSS 1.0 on March 23, BKSS 2.0 on April 10 and BKSS 3.0 on May 8.

These packages, worth RM2.25 billion, were introduced to help cushion the impact of Covid-19, and included measures covering both individuals and businesses.

GPS government recognises SMEs as the key drivers and the backbone to the state’s economy, and in providing job opportunities to Sarawakians.

SMEs make up over 75 percent of the state’s business sector, contributing 20 percent to Sarawak Gross Domestic Product (GDP) and providing about 600,000 jobs for Sarawakians.

Based on records, there are over 40,000 SMEs operating in Sarawak.

Special subsidy programme at mall tomorrow

SIBU: The service centre of Sibu MP Oscar Ling Chai Yew will embark on a special subsidy programme at the Orange Zone of Star...

Share post:

Our Opinion

More like this
Related

Malaysians urged to unite as one family

LIMBANG: ‘Keluarga Malaysia, Teguh Bersama’, the theme for this...

MPKS-UNIMAS joint study on rural poverty

KUCHING: Kota Samarahan Municipal Council (MPKS) will be collaborating...

Police identify body of floating victim

KUCHING: Police here confirmed the finding of a man’s...

In dire need of new cemetery site

KUCHING: The Muslim cemetery (TPI) in Semariang is on...

Stateless children deserve education too

KUCHING: Datuk Seri Fatimah Abdullah is on board with...

Swinburne University holds doodle art workshops

KUCHING: Swinburne University of Technology Sarawak Campus held two...

Sarawak govt to speed up strata titles

KUCHING: The state government will speed up the strata...

Turn to mechanisation, builders told

KUCHING: Mechanisation is a way out for the housing...

Machete-wielding, car windshield-smashing man fined RM2,500

SIBU: A youth was today fined RM2,500 in default...

IVF treatment via EPF account

KUCHING: Sunway Fertility Centre offers financial assistance for In...

Uphold integrity and improve service delivery, policemen told

SERIAN: Uphold integrity, strengthen service delivery and support the...

Car skids and crashes into concrete wall, driver left injured

KUCHING: A local man sustained body injuries after his...