KUALA LUMPUR: RHB Banking Group has entered into a partnership with Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) to facilitate up to RM1 billion in financing for small and medium enterprises (SMEs) and mid-tier companies (MTCs).
SJPP is a wholly-owned company of the Ministry of Finance (Incorporated).
In a statement today, RHB said the partnership involves a dedicated financing allocation earmarked for the bank under SJPP-administered government guarantee programmes.
"Through this partnership, RHB and SJPP aim to broaden SMEs’ access to financing by lowering barriers to funding and supporting a wider range of businesses.
"Eligible SMEs will also be able to benefit from restructuring, rescheduling and repayment assistance, enabling them to better manage cash flow pressures and sustain operations amid rising costs and a more challenging operating environment,” it said.
RHB added that the collaboration further supports national efforts to assist businesses affected by the ongoing conflict in West Asia.
"As a participating financial institution under Bank Negara Malaysia’s SME Stabilisation Relief Facility (SME SRF), RHB’s collaboration complements broader national efforts to strengthen business continuity during periods of heightened uncertainty,” it said.
RHB Group managing director and group chief executive officer Datuk Mohd Rashid Mohamad said as a financial institution with a long-standing commitment to the SME segment, RHB recognises the importance of supporting businesses through periods of uncertainty.
"Through our partnership with SJPP and participation in SME SRF, we are committed to helping viable SMEs and MTCs gain access to financing and navigate current challenges with greater resilience,” he said.
RHB also said that it will jointly organise roadshows with SJPP across key regions, including the Klang Valley, Johor Bahru and Penang, to raise awareness of available financing solutions and facilitate direct engagement with SMEs by connecting eligible businesses to relevant programmes.
Meanwhile, SJPP acting principal officer Juanita Rusmini Abdul Jalil said the collaboration with RHB strengthens the delivery of government guarantee schemes and expands financing support for viable businesses.
"By working closely with financial institutions, we can ensure that these programmes reach more SMEs, enabling them to sustain operations and move forward,” she said.
RHB has been participating in SJPP initiatives since 2009 and has supported more than 12,000 SMEs to date. - Bernama
