KUALA LUPUR: Tech solutions provider Green Packet Bhd has teamed up with Malaysian Industrial Development Berhad (MIDF) to provide financing solutions to small and medium enterprises (SMEs) looking to digitalise their businesses.
Under the MoU signed on Thursday, MIDF will provide financing advisory services and financing facilities, where applicable, to potential and existing clients of Green Packet wanting to fast track their digital transformation journey.
The collaboration will also feature thought leadership events with MIDF and Green Packet, webinars as well as workshops for potential and existing clients, they said in a statement.
MIDF group managing director, Datuk Charon Wardini Mokhzani said MIDF is committed to helping SMEs grow their business and it has a variety of soft financing schemes to help them do so.
“One of these is our soft financing scheme for digital & technology (SFDT), which assists SMEs that want to adopt or increase their utilisation of digital technologies to make themselves more competitive and efficient.
“Through this MoU with Green Packet, we will be able to reach more SMEs and provide them with the financing they need to be able to compete in the new digital world, ” he said.
Under the SFDT, financing features include securing up to 90% financing or up to RM1mil, a repayment tenure of up to five years, and interest as low as 3% per annum on a yearly reducing balance.
Green Packet group managing director, CC Puan (pic, above) said the partnership reflects Green Packet’s commitment to support the SMEs with an enterprise suite of solutions that can help them make a smooth transition towards contactless and cashless business environments.
“Our combined solutions with MIDF will provide avenues and opportunities for the Malaysian local business community to further innovate and digitise their business, to deliver value to customers and to ensure business continuity, ” Puan said.
A virtual signing ceremony was held on Thursday morning and officiated by Deputy Minister of International Trade and Industry, Senator Datuk Lim Ban Hong together with Charon and Puan.
In his speech, Lim strongly urged more forward-thinking and innovative companies as well as service providers with technology knowledge and expertise such as Green Packet to step forward and discuss potential partnerships and collaboration with MIDF.
He said this was crucial so that “we, as a nation, can further accelerate our journey towards achieve the Industry4WRD vision”.
MIDF chairman, Tan Sri Abdul Rahman Mamat said this MoU could not come at a better time as the pandemic has put pressure on companies, especially SMEs to reassess their business models and explore new opportunities and new ways of doing business.
“It is crucial for us to develop partnerships like this today to help revive the country’s economic growth and safeguard economic structural reforms, particularly in facilitating the digitalisation process amongst SMEs, helping them transition into adopting digital technology and developing talents that meet the labour market demands in the near future, ” he said
Green Packet offers a range of Financial Services solutions through its subsidiary Kiplepay Sdn Bhd such as a payment gateway service that authorises cashless payment for online businesses; white label e-wallet solution for clients looking to create their own branded e-wallet without the hassle of starting from scratch; e-know your customer (e-KYC) solutions that simplify the digital onboarding process for customers by verifying their credentials and identity, and more.