RM40 mln more allocation under BKSS

Date:

KUCHING: The state government has provided additional allocations for three measures under the Sarawakku Sayang Special Assistance (BKSS) packages aimed at assisting small and medium enterprises (SMEs).

The Small and Medium Industries Loan Scheme (SPIKS) received an additional allocation of RM20 million while the programmes Graduates-to-Entrepreneurs (Gerak) and Technical and Vocational Entrepreneurs (Ustev) each received an additional RM10 million, with the allocations to be channelled in stages.

This was announced by Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan in a press conference on BKSS aid for the business community in Sarawak on Tuesday (Sept 7), during which he also provided updates on the various measures implemented to assist SMEs.

He also revealed that the Sarawak government would consider increasing the allocation for interest subsidy for Special Relief Fund (SRF), Targeted Relief and Recovery Facility (TRRF), and Targeted Relief and Recovery Facility (TRRF) if the need arose.

“SRF, TRRF as well as PTF are loans provided by the federal government, and Sarawak is the only state in Malaysia that provides the interest subsidy schemes for SMEs under these three schemes,” he said.

He added that to date, the interest subsidy for SRF, TRRF, and PTF was estimated to be RM88.2 million.

SPIKS for Bumiputera SMEs

Awang Tengah, who is also Minister of International Trade and Industry, Industrial Terminal and Entrepreneur Development, said that SPIKS had been allocated an additional sum of RM20 million.

He said thus far, 452 applications had been received for the scheme with a total value of RM33.14 million.

Of these, he said 411 applications had been approved with a total value of RM30.13 million, adding that these 411 approved applicants were enjoying the interest subsidy for a period of 3.5 years.

“The estimated total interest subsidy for 3.5 years as of Aug 31 is RM540,000,” he said.  

He said SPIKS was an initiative of the Sarawak government to assist Bumiputera SMEs including micro-entrepreneurs to grow their businesses with regard to working capital and purchase of machinery and equipment.

He said the scheme offered loans of up to RM250,000 and was implemented by Sarawak Economic Development Council (SEDC).

“For new applications approved until Dec 31 this year, borrowers are eligible to enjoy the interest subsidy for 3.5 years,” he said.

Gerak and Ustev

Awang Tengah said that an additional RM10 million had been allocated for the Gerak programme.

He said 525 applications had been received thus far, involving a total allocation of RM9.41 million. Of these, he said 264 had been approved with a total allocation of RM3.34 million.

He said the Ustev programme had also been allocated an additional RM10 million.

He said 596 applications had been received so far with a total allocation of RM9.25 million. Of these, 388 applications had been approved, involving a total allocation of RM4.42 million.

“Under the Gerak and Ustev programmes, a total of 652 graduates and youths with technical skills are eligible for grants worth up to a maximum of RM20,000 to start and grow their businesses.

“To make it easier for graduates and youths to submit applications for both programmes, the Ministry has provided online and manual applications,” he said.

Sarawak Micro Credit Scheme (SKMS)

Awang Tengah said thus far, 1,879 SKMS applications had been received with a total value of RM69.32 million.

Of these, he said 1,463 applications had been approved, involving a total value of RM48 million. He added that these 1,463 approved applicants were enjoying the interest subsidy for a period of 3.5 years.

“The estimated total interest subsidy for 3.5 years as of Aug 31 is RM4.73 million,” he said.  

The total approved allocation for SKMS is RM100 million, with RM50 million already received and the remaining RM50 million to be channelled in stages.

He explained that this scheme offered loans up to a maximum of RM50,000 and was open to all Sarawak entrepreneurs regardless of background.

“SKMS does not require a guarantor and only requires at least a business permit issued by the local authority of relevant agency. Applications can be submitted to SEDC and Agrobank,” he said. 

He said new applications approved up until Dec 31 this year would be eligible to enjoy the 3.5-year interest subsidy as well.

SRF, TRRF, and PTF

Awang Tengah said 2,040 applications had been received for SRF, of which 1,915 had been approved.

“The total estimated interest subsidy is RM50.93 million and the total SRF loans approved under the interest subsidy scheme is RM606.91 million,” he said.

He said SRF was to cater for SMEs in all sectors except services, adding that applications for SRF had been closed on Dec 31 last year as decided by the federal government.

As for TRRF, he said 2,035 applications had been received with a total estimated interest subsidy of RM22.14 million.

“The total TRRF loans estimated under the interest subsidy scheme as of Aug 31 is RM229 million,” he said, adding that TRRF targeted SMEs in the services sector.

On PTF, Awang Tengah said 815 applications had been received and the total estimated interest subsidy was RM1.96 million.

He said the total PTF loans estimated under the interest subsidy scheme as of Aug 31 this year was RM20.55 million. He added that PTF was to cater for SMEs in tourism and tourism related subsectors.

“For those eligible SMEs under TRRF and PTF, they are also entitled for the 3.5-year interest subsidy to be provided by the Sarawak government. These subsidy schemes are available until Dec 31 this year,” he said.

He said applications for both schemes could be made through the 12 participating local banks — Public Bank, Maybank, CIMB, SME Bank, Ambank, Bank Muamalat, RHB, Hong Leong Bank, Alliance Bank, Agrobank, Bank Rakyat, and Bank Islam.

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