NEW AUTOMOTIVE LOAN FOR LOCAL MANUFACTURERS AND ASSEMBLERS

Kuala Lumpur, Saturday, 24 February 2007 - Malaysian Industrial Development Finance Berhad (“MIDF”) steps up efforts to disburse its newly launched automotive loan, named the Soft Loan Scheme for Automotive Development (“SLSAD”), valued at RM450.0 million. With the latest loan scheme in the market, MIDF expects that local automotive assemblers and manufacturers of parts and components will be better equipped to face challenges despite today’s increased competition and the Government’s liberalisation measures to boost the economy.

Channelled by the Government through the Ministry of International Trade and Industry, this automotive loan is in line with the Government’s initiative to provide soft financing schemes which meet specific needs of the small and medium-sized enterprises (“SMEs”).

With the shorter turnaround time for approval and disbursement of these financing applications that MIDF will implement, the SLSAD is an alternative financing avenue to the SMEs.