PETALING JAYA: Credit Guarantee Corp Malaysia Bhd (CGC) is embarking on a massive rebranding exercise with the light rail transit (LRT) naming right, which will reach out to more small and medium enterprises (SMEs).
President/chief executive officer Datuk Mohd Zamree Mohd Ishak, said this was part of the company’s five-year rebranding exercise to become a household name for SMEs by 2020.
The initiatives included securing naming right for the LRT station in Glenmarie, creating videos of entrepreneur success stories with CGC and event sponsorships, he said.
“Of all the initiatives, we believe that renaming the LRT station to CGC-Glenmarie would give a greater impact on the rebranding exercise considering its location and accessibility to SMEs,” he told reporters after the rebranding of the CGC-Glenmarie station in Shah Alam on Wednesday by Deputy Finance Minister Datuk Lee Chee Leong.
Mohd Zamree said CGC had secured a three-year plus two-year extension naming right for CGC-Glenmarie station, which was the fourth station under Prasarana Malaysia Bhd’s LRT station naming right programme.
He said the Kelana Jaya line, which has 37 stations, has an average daily ridership of 225,000 commuters.
A survey conducted by Prasarana Integrated Development Sdn Bhd indicated that advertisements in the train as well as at the surrounding stations could generate about 62% brand recall, he said.
He said the station, located about 100 metres from the CGC headquarters, also has about 80,000 SMEs operating in the vicinity.
“There are some 600,000 SMEs in Malaysia, of which about 200,000 are operating in the Klang Valley.
“As CGC marches forward to be a champion of the SMEs in the country, we will continue to invest significantly in branding and promotional activities, which in return, will bring immense benefit to CGC, “ he said.
On the year’s target to provide 9,500 guarantees valued at RM4.7bil, he said, CGC was 60% on track to achieving the target and was fairly confident of attaining it by year-end.
Meanwhile, CGC chairman, Datuk Agil Natt, said since its inception in 1972, the company had provided guarantees totalling RM63.7bil to about 444,700 SMEs.
As at July 31, 2017, CGC had approved 3,731 guarantees valued at RM1.6bil for this year, he said He said over the past 45 years, CGC had managed about 45 credit guarantee schemes, of which 16 were with the support of the Government.
“The company will continue to focus on providing financing to deserving SMEs,” he said. - Bernama
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