KUALA LUMPUR: Supporting Malaysia’s small and medium enterprises (SMEs) is vital as the global supply chains are shifting to Asean countries. Investme...
KUALA LUMPUR
He shared that the 10 nations that comprise Asean are already home to more than 678 million people, with a combined Gross Domestic Product of about US$3.7 trillion in 2022. In 2022, Tengku Zafrul said that when the global foreign direct investment fell by 12 per cent, FDI into Asean went up by five per cent, and its share of global FDI rose to an all-time high of 17 per cent.
Tengku Zafrul added that the government acknowledged the significant influence of external factors on businesses and recognised that even well-managed companies could suffer setbacks from circumstances beyond their control, especially in the ever-evolving economic landscape. “To that end, the MIDF-AKPK collaboration is an important, holistic recovery ecosystem in terms of supporting troubled companies, particularly the SMEs,” he added.Meanwhile, MIDF Group’s chairman, Tan Sri Abdul Rahman Mamat, said the MIDF 2CF scheme offers financing between a minimum of RM50,000 to a maximum of RM5 million at a rate of three per cent annum on monthly rest, with a tenure of up to 10 years.
“MIDF and AKPK have been actively exploring a potential partnership to facilitate greater access to this Second Chance Financing scheme for financially distressed SMEs.
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