Global Soft offers SMEs financing


IN a bid to boost the development of local small- and medium-scale industry, Global Soft (MSC) Bhd is providing an interest free financial scheme worth RM5mil to small- and medium-scale entrepreneurs (SMEs) to help them install enterprise resource planning (ERP) software. 

Through the scheme, SMEs can obtain ERP solutions through instalments ranging from RM15,000 to RM150,000. 

ERP solutions facilitate the integration of financial information, customer order information and standardisation and expedition of manufacturing process. 

Executive officer Low Kok Thai said the company was targeting between 100 and 200 SMEs to sign up for the scheme within a year. 

“With the realisation of the World Trade Organisation (WTO) and Asean Free Trade Area (Afta), SMEs are facing stiff competition in the marketplace. ERP will be the answer to help them consolidate their resources and improve their performances,” he said at the signing of a memorandum of understanding between Global Soft and Great Vision Advisory Group. The MoU was for the launch of the RM5mil ERP development financing scheme and another RM5mil for research and development (R&D) of third-generation financial planning programme. 

At the MoU signing. From left: Low Kok Thai, Global Soft executive chairman Datuk Low Kok Chuan, Deputy Home Minister Datuk Tan Chai Ho, Great Vision group managing director James tan Boon Pock and Great Vision executive director Chua Tia Guan.

“It is important for SMEs to utilise information and communications technology (ICT) to be competitive and increase productivity and efficiency. This financial scheme will help ease their burden of having to pay upfront a sizeable amount of money for ERP systems,” Low said. 

“If the response is good, we will offer more loans to SMEs,” he said. 

He said the company, which specialises in developing ERP software for the SME market, was confident it could achieve its target profit of RM4mil for the current financial year ending Dec 31. 

For the financial year ended Dec 31, 2003, it posted profits of RM2.8mil on revenue of RM6.7mil. 

Low said the company’s forecast revenue for the current year was between RM8mil and RM9mil.  

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

Next In Business News

Bursa Securities strikes off dealer's rep from register for misconduct
Malaysia Airlines set for recovery, post-pandemic, Khazanah says
Khazanah MD: Valid for govt to seek higher dividends during trying times
CPO futures close higher, boost from soybean
Maybank appoints Shahril chief sustainability officer
Khazanah's holding in Malaysia Airlines diluted by debt restructuring
Singapore's GIC cashes in on Taiwan stock boom -sources
Fall in glove stocks offsets banks' rally
Norway's Seadrill writes down US$2.9bil on its oil rigs
TM ONE introduces new brand strategy and enhanced website

Stories You'll Enjoy


Vouchers