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Malaysia’s Central Bank has established a 1 billion ringgit (US$241 million) financing facility to support high-tech SMEs impacted by the pandemic.

The Malaysia Digital Economy Corporation (MDEC) expects investor confidence to get a boost as Malaysia accelerates its digital economy agenda with the recent announcement of the national digital economy blueprint MyDigital. Based on the Department of Statistics Malaysia report, the digital economy’s contribution to gross domestic product (GDP) for 2019 stood at 19.1% or RM289.2bil. It is projected to hit 20% in 2020. “Amid the Covid-19 pandemic which disrupted foreign direct investment (FDI) globally, we continue to build strong investment momentum in our digital tech industry, ” said M...

Bank Negara said in a statement yesterday that SMEs could also either secure a combination of working capital and capex up to RM5mil for up to seven years PETALING JAYA: Small and medium enterprises (SMEs) eligible under Bank Negara’s High Tech Facility – National Investment Aspirations (HTF-NIA) – can obtain financing of up to RM1mil for working capital purposes and up to RM5mil to finance capital expenditure (capex). Bank Negara said in a statement yesterday that SMEs could also either secure a combination of working capital and capex up to RM5mil for up to seven years. “This facili...

16 Dec 2020 / 09:27 H. KUALA LUMPUR: Small and Medium Enterprises (SMEs) can obtain financing of up RM5 million from Bank Negara Malaysia (BNM)’s RM1 billion High Tech Facility – National Investment Aspirations (HTF-NIA). “SMEs can obtain financing up to RM1 million for working capital purposes; up to RM5 million to finance capital expenditure; or a combination of working capital and capital expenditure up to RM5 million, for a tenure of up to 7 years,” said BNM in a statement yesterday. It said the facility is offered at a financing rate of up to 3.5 per cent per annum for financing...

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