'As I hand over the reins after a decade of transformation at CGC, my parting words are simple: stay true to our mandate. CGC was founded to serve Malaysian businesses, and that mandate has never been more relevant.' - Datuk Mohd Zamree Mohd Ishak
AFTER serving 11 years in Credit Guarantee Corp Malaysia Bhd (CGC), its president and chief executive officer Datuk Mohd Zamree Mohd Ishak will soon leave the organisation in good stead.
CGC today is in better form and leaner than before, and its role as the country’s main credit guarantor for micro, small and medium enterprises (MSMEs) is more entrenched.
CGC, which is majority-owned by Bank Negara Malaysia (BNM), has come a long way since 2015 under Zamree’s leadership.
Recalling his tenure of service at CGC, Zamree, who will end his tenure at the end of December 2025, fondly shares with StarBiz some highlights of his journey in leading the group.
The financial institution has gone from strength to strength in the last 10 years of his tenure and he points out that the toughest and most significant moment for him at the group was when he had to deal with the unprecedented Covid-19 pandemic crisis that stormed the world unprepared more than five years ago.
In hindsight, this episode had also given him the opportunity for personal growth, as the lockdowns then also meant deploying unconventional ways to deal with any challenges that had cropped up.
“The pandemic was the most monumental test of my career – and I believe the same was true for many leaders across the financial industry. At a time when Malaysian MSMEs were under severe stress, we had to act decisively.
“At CGC, we rolled out counter cyclical measures – restructuring and rescheduling loans and significantly expanding our guarantees – so that businesses could survive and bounce back,” Zamree tells StarBiz.
“Crucially, we were able to do this with the strong support of the Finance Ministry, BNM and all our banking partners, in line with Malaysia’s 3R Strategy of Relief, Recovery and Resilience.
“Looking back, it was far from easy, but it defined us as an institution that stood firmly with MSMEs when they needed us the most,” he adds.
Through BNM’s Disaster Relief Facility (DRF), CGC had provided up to RM500mil worth of guarantees then.
According to Zamree, CGC’s digitalisation journey began as early as in 2018 – a move that proved invaluable when the pandemic hit, rapidly accelerating digital adoption among the public and demanding quick adaptation.
“I recalled during the first few critical months of the pandemic, my team and I were clocking in at least 12 hours a day. We needed to be on top of things during this time. I am very happy to have had the full support of my team to ensure this was done to ensure Malaysian MSMEs would survive during this difficult time.
“This has kept our mission deeply human,” Zamree says.
Meanwhile, the group also today takes the cue from his leadership, which emphasises transparency, accountability and inclusivity in everything that it does.
“Integrity and governance have always been at the core of my leadership approach. To me, governance is not just about compliance, but also about setting standards for the industry.
“I am humbled that the Association of Development Finance Institutions of Malaysia’s (ADFIM) Lifetime Achievement Award acknowledges this aspect of leadership, because it is what ensures that institutions like CGC remain trusted and relevant for the long term,” Zamree says.
The ADFIM Lifetime Achievement Award is the association’s highest recognition which was awarded in October 2025, recognising his distinguished service and significant contributions to the country’s developmental finance sector.
Zamree also won the “Distinguished Person of the Year” award from the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) in April 2025.
Among other highlights during his tenure at CGC includes the raising of the organisation’s profile and awareness in the public space.
“Most notably, I am happy to note that CGC’s Brand Awareness rose from 43% in 2015 to 85% in 2020, surpassing our target of 80%. We also achieved 100% for both our Guarantee and Financing Base and our Guarantee Reserve Ratio. The only shortfall was in our Graduation Rate – MSMEs who no longer needed our guarantee – which stood at 94% against a 100% target, largely due to the pandemic’s impact on businesses,” he says.
“These recognitions are deeply humbling, but I have never regarded them as my personal achievements alone.
“They belong to the CGC Group and to everyone who has shaped and supported my journey – from our chairman, Datuk Mohammed Hussein, the board, management and staff, to the Finance Ministry, BNM, our banking and strategic partners, and the many leaders who guided me throughout my career and whose wisdom and counsel I have always valued.
“Most importantly, I am deeply grateful for the unwavering love and support of my family.
“I wish to express my utmost thanks and appreciation to all of them for their trust, collaboration, and steadfast commitment to CGC’s mandate. It has truly been a privilege to serve alongside such dedicated and principled partners.
“I would also like to convey my sincere appreciation to The Star for its continued role in championing Malaysian businesses through the Star Outstanding Business Awards (SOBA).
“Over the years, CGC has been proud to support SOBA as a sponsor, recognising it as an effective platform that celebrates entrepreneurship, encourages business excellence and strengthens the nation’s MSME ecosystem.”
Zamree also points out CGC’s role, which has seen a change today, shifting from being primarily a guarantor operating in the background to becoming a key catalyst for MSME growth and resilience.
Today, CGC supports an estimated one-third of Malaysia’s MSMEs through its guarantees and financing schemes that are fully aligned with Malaysia’s financial inclusion agenda.
“For example we have recently also reached out to Bursa Malaysia and the Securities Commission (SC) to guide potential companies under us that we think have the potential to go for a listing in the next 12 to 18 months.
“We know their business well and we are happy to note the regulators agree these companies we had highlighted had the prerequisite building blocks that would lead them to an eventual successful public listing on the stock exhange,” Zamree says.
“This is in line with our aspirations to partner with businesses across their life cycles. So they may not require our guarantee but we are more than happy to facilitate and be the bridge towards any eventual plans to go public,” he adds.
Following the conclusion of his tenure at CGC, Zamree, who hails from Kota Kinabalu, Sabah, says he plans to take a short break before deciding on his next move.
He has not ruled out returning to the corporate world to continue contributing meaningfully.
“As I hand over the reins after a decade of transformation at CGC, my parting words are simple: stay true to our mandate. CGC was founded to serve Malaysian businesses, and that mandate has never been more relevant.
“Over the past 10 years, the team has built a strong foundation – from transforming CGC through the 5-Year Strategic Plans, to supporting businesses during the unprecedented test of Covid-19, to earning recognition for transparency and governance,” he says.
“To my successor, Mohamed Nazri Omar, and our team, I have every confidence that you will take the CGC Group to even greater heights. The baton is in good hands,” Zamree adds.
He also hopes the CGC Group will continue to be a catalyst for Malaysian businesses and not just filling financing gaps but also shaping outcomes that strengthen the economy and uplift the lives of entrepreneurs throughout Malaysia, which is its raison d’être, and should remain so going into the future.
