SOFT LOAN FOR AUTOMATION AND MODERNISATION (SLSAM)

The Soft Loan Scheme for Automation and Modernisation was launched in February 2007 to:-
i) encourage industries to modernise and automate their manufacturing processes;
ii) upgrade production capability and capacity; and
iii) assist companies in:-

• minimising dependence on labour-intensive activities and foreign labour;
• diversifying into higher value-added activities; and
• rationalising and streamlining their operations through mergers and acquisitions.

The Scheme is channeled by the Government via the Ministry of International Trade and Industry (MITI) and implemented by Malaysian Industrial Development Finance Berhad (MIDF).

Eligibility Criteria and Main Features

1. Eligibility:
Companies incorporated under the Companies Act 1965 with:-

• at least 60 percent equity held by Malaysians;
• Possess valid business license; and
• In operation for at least 2 years.