SMEs told to tap funding

KUALA LUMPUR: Small and medium enterprises (SMEs) should capitalise on the RM517mil funding made available by Malaysian Industrial Development Finance Bhd’s (MIDF) and Malaysian Technology Development Corp (MTDC) under the Soft Loan Scheme for Automation and Modernisation (SLSAM).

MIDF group managing director Datuk Charon Wardini Mokhzani said since 2007, MIDF has approved RM2.2bil in loans under SLSAM for 350 local SMEs.

He said SLSAM, which is the biggest in terms of fund size among six schemes managed by MIDF, is aimed at helping local manufacturers adopt automation in their production process and supporting their journey towards the fourth industrial revolution (Industry 4.0).

Charon Wardini was speaking to reporters after the signing of a memorandum of understanding between MIDF and MTDC to promote Industry 4.0 and funding facilities for local SMEs through various financial assistance packages. — Bernama

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