A quarter of the RM20bil guaranteed for Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) financing will be specifically provided for bumiputra companies, says Datuk Seri Amir Hamzah Azizan.
The Finance Minister II said this can ensure that bumiputra companies at various stages of growth can access financing through the SJPP guarantee for small and medium-sized bumiputra companies as announced during the recent Bumiputra Economic Congress last week.
He said during the launching ceremony of SJPP and Syarikat Jaminan Kredit Perumahan (SJKP) on Monday (March 4).
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The Finance Minister II said this can ensure that bumiputra companies at various stages of growth can access financing through the SJPP guarantee for small and medium-sized bumiputra companies as announced during the recent Bumiputra Economic Congress last week.
He said during the launching ceremony of SJPP and Syarikat Jaminan Kredit Perumahan (SJKP) on Monday (March 4).
Read more at https://shorturl.at/uEIKN
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline
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NewsTranscript
00:00 In 3 counts, we start...
00:02 3...
00:03 2...
00:04 1...
00:05 This program is one of the government's programs to help the existing PMKS
00:17 and also those who may be affected to get housing.
00:23 In the SJPP program, the government has provided RM20 billion.
00:28 This is because we feel that PMKS is a pillar in our economy.
00:35 So, as a key to further strengthen the economy,
00:39 the infrastructure of the economy,
00:41 it is very important for us to help PMKS to be more robust in the future.
00:49 In the SJPP scheme that we have,
00:51 we provide loan guarantees that are issued by the government for RM20 billion.
01:00 This is also hoped to help PMKS to get loans from the real estate sector
01:08 and also to reduce the interest they have to borrow
01:14 so that they can continue to run their business better.
01:18 For this year, we have a little improvement.
01:21 We feel that for the PMKS,
01:25 we have allocated RM5 billion from RM20 billion to the PMKS business sector,
01:32 especially those who want to join the new sectors,
01:37 in the energy transformation sector,
01:39 in the halal sector,
01:41 and the digital sector.
01:43 So, this is what we hope to do together with the food industry in Malaysia.
01:50 Under this scheme, those who ask for loans can get guarantees from the government
01:56 and can raise the interest rate.
02:00 And for this year, we have added RM10 billion that we have allocated for the SJPP program.
02:09 From the start until now, more than 43,000 people have taken part in the SJPP program
02:17 with the scheme that has been developed by the developers.
02:24 We hope that with the addition of RM10 billion that we have,
02:27 we will be able to expand it further with another 40,000 people
02:31 who will be able to join this year
02:33 to reduce the burden for those who work non-stop, non-formal,
02:39 so that they can also achieve a better life.
02:43 So, I think, it is clear that the government is indeed focused on the concept of "Madani"
02:52 and also how we want to further stimulate the economy and strengthen Malaysia
02:57 to become a pioneer in the Asian economy.
03:00 Mr. Azwar, can you comment on the part of RM1 billion that has been allocated by the government
03:08 for the SJPP program?
03:10 Can you tell us how it will be distributed and what will be the main focus of the company?
03:14 If we look at the RM1 billion that has been allocated,
03:18 it will be distributed together with the JLIC, the company that has a business relationship,
03:24 where they have allocated funds for the start-up business
03:33 or the high-value goods business.
03:37 So, we hope that with the funds allocated by the JLIC,
03:45 it will become an area where they can invest in the businesses that are being worked on together with the government.
03:56 The important thing is for the workers to come forward with ideas that are in line with the economic model
04:05 that can be made and invested by the JLIC to further stimulate the economy.
04:10 What is the delinquency rate for guarantees under SJPP and SJP?
04:15 If we look at the SJPP, the NPL that was in the SJPP at the start was a bit higher,
04:25 it was a bit less than 7%.
04:28 But now, because the scheme has gotten better, people understand,
04:31 the credit control has gotten better, it is less than 2%.
04:36 So, it has been to a level that it is self-sustaining.
04:42 So, this is a good innovation over time and continues to support the development of SME in Malaysia.
04:51 For more information, visit www.jlc.gov.uk
04:57 [BLANK_AUDIO]