AmBank and Credit Guarantee Corporation Malaysia Berhad has announced additional financing of RM400 million for SMEs under the Portfolio Guarantee Scheme. With this a total of close to RM5 billion have been allocated for more than 6,000 SMEs since its launch in January 2015.
Jamie Ling, Group Chief Executive Officer, AmBank Group said “SMEs are not only an important customer segment to us, but they also embody the backbone of the Malaysian economy. We are committed to support the SME ecosystem, leveraging on the opportunity to tap into the segment’s market potential while contributing to the nation’s economic development.”
President & Chief Executive Officer, Credit Guarantee Corporation Malaysia Berhad, Datuk Mohd Zamree Mohd Ishak mentioned, “The PG Revival under this strategic partnership between CGC and AmBank fulfils our mandate to assist the unserved and underserved MSMEs leveraging e-commerce platforms. According to MDEC, which serves as the National E-
Commerce Strategic Roadmap 2.0 (NESR 2.0) Project Management Office, the cumulative number of MSMEs adopting e-commerce from 2016 to 2022 has reached over 1.12 million, surpassing the initial 2025 target of 875,000. In alignment with NESR 2.0, this partnership further promotes the growth and development of MSMEs adopting e-commerce.”
With the new tranche, AmBank said it will continue to provide financing of up to RM1 million as working capital to SMEs. Additionally, the new tranche offers AmBank’s Pay-As-You-Grow Term Loan (PayG) product for financing of RM20,000 up to RM500,000.
