PETALING JAYA: Credit Guarantee Corp Malaysia Bhd (CGC) aims to increase its loan base to RM14.5bil by 2020 from RM9bil currently, said president and chief executive officer Mohd Zamree Mohd Ishak.
He said the corporation was also targeting to increase its graduation rate -- companies that no longer require loans from CGC -- to 50% by 2020 from 47% currently, involving 18,000 small and medium enterprises (SMEs).
“CGC also aspires to have an 80% brand awareness among SMEs by 2020,” he told a press conference on the CGC SME Awards on Wednesday.
Mohd Zamree said the loan base target was included in the corporation’s five-year strategic plan slated for 2016-2020.
The plan supported CGC’s vision and mission statements and a set of new core values and identified four strategic objectives with 15 strategies and 31 initiatives to serve as the pillars to realise its goals, he said.
“We will continue to offer financing at reasonable cost and continue to reward good SMEs with our rebate mechanism, price review and when necessary, subsidising our niche market products,” said Mohd Zamree.
He said growth in the number and value of guarantees and financing approved rose by 120% and 106%, respectively, last year.
“We exceeded our target in 2015 by approving 8,225 guarantees and financing with a value of RM3.4bil, further strengthening our commitment to ensure access to financing to SMEs,” he said.
Since its establishment in 1972, CGC has guaranteed loans totalling RM59bil to some 437,000 SMEs. - Bernama
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