RM7b scheme fully utilised

  • Business
  • Wednesday, 28 Oct 2009

KUALA LUMPUR: Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) announced yesterday the RM7bil allocation under the Working Capital Guarantee Scheme (WGGS) has been fully utilised.

SJPP, which is managed by Prokhas Sdn Bhd, is a wholly-owned subsidiary of Minister of Finance Inc.

As of Monday, it had approved 5,329 applications worth RM7bil.

As for the Industry Restructuring Financing Guarantee Scheme, only RM541.2mil of the RM3bil had been taken up, it said.

To date, RM3.8bil has been disbursed to 2,903 applicants by financial institutions under the two schemes.

Prokhas managing director Fazlur Rahman Ebrahim said overwhelming response for the WGGS showed the participating financial institutions were active in their financing activities to assist local companies, especially small and medium enterprises. — Bernama

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