05 Dec

MIDF Approves RM2.1bn Soft Loans for SME

Excerpt from The Malaysian Reserve, 5th Dec 2017,

Malaysian Industrial Development Finance Bhd (MIDF) will continue supporting local small and medium enterprises (SMEs) on their journey towards the fourth Industry Revolution in approving RM2.1 billion under the soft loan scheme for automation and modernation (SLSAM).

Deputy Minister of International Trade and Industry Datuk Chua Tee Yong (picture) said the federal government had allocated RM1.1 billion for SLSAM, and another RM450 million is to be given between 2018 and 2020.

He also said the recent Budget 2018 announcement is indeed vital to business communities as it provides support to all sectors, particularly SMEs, with total allocation to this segment at RM22.2 billion.

He said globally, a few sectors are aggressively shaping up towards Industry 4.0, such as electrical and electronics, automotive, industrial manufacturing, chemicals, logistics and engineering, and construction, with estimated investments of up to US$907 billion (RM3.68 trillion) until 2020. – Bernama

 

For the full story, please visit The Malaysian Reserve website.

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