SOFT LOAN SCHEME FOR INFORMATION AND COMMUNICATIONS TECHNOLOGY ADOPTION (SLICT)

The SLICT was launched in January 2004 to assist small and medium enterprises to improve their competitiveness, efficiency and productivity through the adoption of ICT in business management and operations.

The fund for the Scheme is channelled from the Government via the Small and Medium Industries Development Corporation (SMIDEC) and the Scheme is implemented by MIDF.

Eligibility Criteria and Main Features

1. Eligibility:

• SMEs incorporated under the Companies Act 1965 or Registration of Business Ordinance 1956;
• Subsidiaries of public-listed companies with shareholding not exceeding 20%;
• At least 60% equity held by Malaysians; and,
• Possess a valid premises licence.

2. Sectors:

• Manufacturing
• Manufacturing-related services
• Services (excluding insurance and financial services)

3. Financing Amount:

• Minimum: RM20,000
• Maximum:RM500,000

4. Eligible Items:
Financing for Purchase of:

• Software for upgrading engineering design capabilities;
• ERP software or other similar software;
• Software such as Point of Sales System, Tracking System, Automated Store Management System and Inventory Management System;
• Supporting software for specific industry such as animation, aviation, web hostings and others; and,
• Related hardware, equipment and training cost.

5. Percentage Financing:

• Up to 90 % of the cost of eligible items (80 % for Bumiputera).

6. Repayment:

• Up to 5 ½  years including grace period of up to 6 months.

7. Interest Rate:

• 2 % per annum on yearly rest.