MIDF HELPS BUMIPUTERA SMEs NAVIGATE ECONOMIC
DOWNTURN - Second Bumiputera Entrepreneur Symposium held to raise SME awareness of available financial assistance
Kuala Lumpur, 23 March 2009 – Malaysian Industrial Development Finance Bhd
(MIDF) today urged Bumiputera small and medium-sized enterprises (SMEs) to improve
their productivity, enhance competitiveness and broaden their present market base to
ensure business survival in facing challenges caused by the current global economic
turmoil.
To assist the SMEs in weathering the tough economic times, MIDF has organised the
second Simposium Usahawan Bumiputera MIDF 2009, which was launched here
today by Deputy Prime Minister Dato’ Sri Mohd. Najib Tun Abdul Razak. Also present
was Minister of International Trade and Industry Tan Sri Muhyiddin Mohd Yassin. The
symposium was attended by more than 550 entrepreneurs.
The first symposium was successfully held in Kota Baru, Kelantan on 7 February and
saw the participation of more than 350 Bumiputera entrepreneurs.
The series of symposiums, which is one of MIDF’s many efforts to support the
Government’s initiative in maintaining the economic well-being of SMEs, is aimed at
providing Bumiputera entrepreneurs with a platform to assist them in overcoming
difficulties arising from the present economic climate.
At the launch of the symposium, Deputy Prime Minister Dato’ Sri Mohd. Najib Tun Abdul
Razak said, “The third trust of the second stimulus package is aimed at lending a helping hand to businesses currently facing difficulties in obtaining loans. Funds
amounting to RM29 billion have been allocated for this purpose, which includes financial
assistance to SMEs. SMEs make up 99% of registered businesses in Malaysia, and
therefore, they play an important role in generating economic growth for the Country.
Altogether, SMEs contribute 56% to total employment and 32% to the Malaysia’s Gross
Domestic Product (GDP)
“In his address to the participants of the symposium, International Trade and Industry
Minister Tan Sri Muhyiddin Mohd Yassin said, “MIDF has taken steps to provide
assistance to SMEs facing difficulties in the current economic downturn through
continuous discussions and counselling sessions with them. It is my hope that SMEs
will continue to be successful and establish themselves not just locally, but also in the
international arena with the help of programmes undertaken by agencies under MITI like
MIDF and SMIDEC”.
MIDF has spent over RM580, 000 overall to build homes for both phases of Program Rumah Murni. The homes were also equipped with basic furniture for the living, bedroom and kitchen areas to ensure a proper living environment.
“It is our belief at MIDF, that we should never allow our successes to blind us to the need of helping those less fortunate than ourselves. We hope that by providing those in need with the basic necessities to face the other challenges in their daily life, we will be giving them the means to create even better opportunities for themselves,” said Encik Mohd Najib at the ceremony.
MIDF’s corporate social responsibility efforts are based on education, and this is extended to Program Rumah Murni as well. “Program Rumah Murni is not just about building new homes or repairing existing ones. By providing a safe and comfortable shelter for these families, we are indirectly also providing their children with a more conducive environment for their evolvement,” Encik Najib said.
“Today’s ceremony marks the completion of the second phase of the “Program Rumah Murni MIDF” and we are currently planning the next phase of the programme. Nevertheless, we hope that other companies and organizations will embark on similar programmes in a collective effort to create a lasting solution to the problem of hard core poverty,” added Encik Najib.
Since its inception in 1960, the MIDF Group has been a strong contributor towards the country’s socio-economic growth. The group today is a diversified business organization which offers comprehensive financial and investment services through its core businesses.
Encik Mohd Najib added that apart from this initiative, MIDF had, through its other CSR programmes, contributed toward enhancing human capital capabilities amongst many quarters of the Malaysian society.
Last year, MIDF established a study corner for the children and residents of the Sri Sabah flats in Cheras, and later returned to the study corner to contribute books donated by MIDF staff. Over 180 students from schools in Kota Tinggi, Kuantan, Kuala Kangsar and Melaka were also presented with basic school necessities such as bicycles, school bags, stationeries and pocket money in an effort to ease the burden of their parents. MIDF also signed an agreement last year with UiTM’s Faculty of Art and Design in an effort to promote local arts and crafts by its students.
“As a financial institution that has always held a mandate for development, MIDF is proud to maintain a range of CSR programmes for the benefit of the society. From providing basic necessities to underprivileged children to rebuilding the homes of the underprivileged, MIDF is committed towards being a responsible corporate entity,” stated Encik Najib.
Participants of the symposium were provided with comprehensive information on financial management and were also exposed to the various forms of financing solutions. They were also provided with valuable information and knowledge via the
presentations by speakers from MIDF, MITI, SMIDEC and MATRADE, among others the topics covered during the one-day symposium include available opportunities in
business, the challenges and a perspective of the economy ahead, solutions to
overcoming challenges in obtaining financing, the exploration of export markets, and
programmes and incentives provided by various Government agencies.
IDF’s soft loan schemes can assist SMEs in reducing their costs of doing business
with the lower interest charges announced by the Government in June last year. To
further assist the SMEs, MIDF is also prepared to restructure the loan repayments for
borrowers who are facing difficulties in servicing their existing loan instalments.
MIDF is an established development finance institution with a strong record in
developing and assisting SMEs, thereby contributing to the economic growth of
Malaysia.
As at 28 February 2009, loans totalling RM961.7 million had been approved
for SMEs and other enterprises under seven soft loan schemes.
At present, MIDF offers Soft Loan Schemes for Small & Medium Enterprises (SLSME),
ICT Adoption (SLICT), Automation & Modernisation (SLSAM), Factory Relocation
(SLFR), Automotive Development (SLSAD) and International Branding (SLSIB) as well
as the Dana Khas Kerajaan Persekutuan Enterpris Kecil & Sederhana Di Terengganu
(DKKP)
