SME Factors' RM200m credit scheme

KUALA LUMPUR (Bernama): SME Factors Sdn Bhd is providing a credit facility of RM200 million under its “SME Success” scheme to contribute to the development of small and medium enterprises (SMEs) in Malaysia.

"SME Success” is a collaboration between SME Factors and PBBM Global Corp Bhd (PGC).

SME Factors managing director Syed Zed Al-Qudsy said the allocation was aimed at assisting PGC entrepreneurs and members of Malaysian Statutory Bodies Association (PBBM) expand business to a higher level as well as provide benefits to their vendors and contractors.

“Of the total, three PBBM members namely Universiti Utara Malaysia, Malaysian Agricultural Research and Development Institute (MARDI) and Inland Revenue Board will receive early allocation worth RM25mil each.

“The balance of RM125mil will be allocated towards year-end to institutions involved in statutory bodies,” he added.

To date, there are 92 institutions who are members of PBBM.

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