SME Bank Distributes RM2.25 Billion Budget Allocation To 4 Divisions


January 10, 2013 15:14 PM

KUALA LUMPUR, Jan 10 (Bernama) — SME Bank Malaysia Bhd will distribute the RM2.25 billion it was allocated by the government in the 2013 Budget to four divisions.

Managing Director Datuk Mohd Radzif Mohd Yunus said RM1 billion will be channelled to small and medium enterprise (SME) development and another RM1 billion to financing Bumiputera SMEs in Government-Linked Companies’ (GLC) non-core businesses.

Another RM200 million will be used to finance halal-based SMEs and RM50 million for young entrepreneurs, he said when met at the official launch of the bank’s business centre in Rawang near here today.

He said SME Bank will open five more such centres nationwide this year including in Sabah and Sarawak, with each centre costing RM250,000.

SME Bank now operates in 20 enterprise centres nationwide, with three in Selangor (one each in Shah Alam, Kajang and Rawang).

Between January to November last year, the bank approved 1,690 loan applications valued at RM2.76 billion.