SMEs get RM5bil in financial aid

Learning from history: (From left) SMG client brand marketing (Bureaus) general manager Simone Liong presenting Chow with a copy of The Star’s first edition as Yeoh and Sim look on. —ZHAFARAN NASIB/The Star

GEORGE TOWN: Up to RM5bil in low-cost financing is being set aside to help small and medium enterprises (SMEs) cope with rising costs and the uncertainties resulting from the Iran conflict.

The loans, with minimal interest rates of 3% to 5%, are meant to help businesses stay afloat and invest in automation, digitalisation and high-tech processes as global conditions tighten, said Steven Sim.