Govt Allocates RM5 Billion Financing For Bumi Companies’ Guaranteed By SJPP

The government has allocated RM5 billion of the RM20 billion financing to be guaranteed by Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) specifically for bumiputera companies in 2024. This move aims to prioritize the growth of Madani Economy’s new sectors, according to Finance Minister II Datuk Seri Amir Hamzah Azizan.

Speaking at the launch of SJPP’s Business Financing Guarantee Scheme and Syarikat Jaminan Kredit Perumahan Bhd’s (SJKP) Housing Credit Guarantee Scheme, Finance Minister II, Datuk Amir Hamzah Azizan highlighted that the guarantee allocation will ensure that bumiputera companies have access to financing, particularly in the emerging sectors of the Madani Economy.

Moreover, the government will focus on digitalisation efforts for micro, small, and medium enterprises (MSMEs), further aiding the growth and development of bumiputera companies across various stages.

Amir Hamzah emphasised that SJPP’s guarantees for small and medium-sized bumiputera companies will complement other initiatives, including the RM1 billion microcredit fund announced for micro-entrepreneurs and the RM1 billion equity fund under government-linked companies (GLCs) for startup and high-growth companies, as announced during the recent Bumiputera Economic Congress.

SJPP, known for its support to MSMEs, has provided guarantees for over 100,000 MSMEs with a total approved sum of RM75 billion. In the previous year alone, SJPP assisted more than 19,000 MSMEs, facilitating financing totaling RM18.5 billion.

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