SJPP to help bumi firms with RM5bil allocation, says Finance Minister II

KUALA LUMPUR: A quarter of the RM20bil guaranteed for Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) financing will be specifically provided for bumiputra companies, says Datuk Seri Amir Hamzah Azizan.

The Finance Minister II said this can ensure that bumiputra companies at various stages of growth can access financing through the SJPP guarantee for small and medium-sized bumiputra companies as announced during the recent Bumiputra Economic Congress last week.

"As much as RM1bil will be allocated for bumiputra micro-entrepreneurs. For start-ups and high growth companies, an equity fund of RM1bil is allocated under government-linked companies (GLCs)," he said.

He also said the financial support through SJPP is for the local small medium enterprises (SMEs) to innovate and focus on export activities while support for micro enterprises is focused on providing access to financing and digitisation.

"This is especially for those involved in the green economy, modern technology, healthcare and the halal industry," he said during the launching ceremony of SJPP and Syarikat Jaminan Kredit Perumahan (SJKP) on Monday (March 4).

Applications for both schemes are open from financial institutions that provide financing for the schemes.

Meanwhile for SKJP, he said that since its establishment in 2008, it has approved guarantees to more than 43,000 beneficiaries with a total funding of over RM8.8 bil.

SJKP is aimed at helping those who do not have a fixed income to buy their first home.

It will benefit those from various employment backgrounds including fishermen, gig workers, night market traders and more.

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