AmBank extends financing facility through SME Portfolio Guarantee revival scheme

KUALA LUMPUR: AmBank in collaboration with CGC has extended its financing facilities worth RM400 million through the SME Portfolio Guarantee (SPG) Revival Scheme/-i.

This is part of the ongoing strategic collaboration between AmBank and CGC to assist the small and medium sized enterprises (SMEs) in providing working capital to revive and support their business growth.

AmBank Group chief executive officer Datuk Sulaiman Mohd Tahir said “Despite the challenging domestic and global environment, SMEs remain as a substantial backbone of the Malaysian economy.

Having said that, it is crucial for financial institutions to work closely with this sector to support them in restarting their businesses and gearing towards recovery.”

CGC president/chief executive officer Datuk Mohd Zamree Mohd Ishak highlighted that the health and economic crises have affected everyone, threatening lives and economies in such magnitude with the SME sector being hit the hardest.

He said, “At CGC, we are continuously aligning our strategies and intensifying our support to SMEs.

This RM400 million SME Portfolio Guarantee Revival Scheme is a coordinated collaboration with AmBank to support SMEs weather these crises by providing timely guarantee to entrepreneurs in need.”

“Ever since we entered into the partnership with CGC in year 2016, AmBank has entered total agreement tranches of more than RM3.8 billion.

“We are now working on upcoming tranches that are targeting different segments of SMEs to help them survive the economic repercussions arising from the unprecedented Covid19 pandemic,” added AmBank Retail Banking managing director Aaron Loo.

For more information on this scheme, kindly visit ambank. com.my.—