The Small Debt Resolution Scheme set up by Bank Negara Malaysia has received 102 applications from small- and medium-sized enterprises (SMEs), since its establishment in November last year to May 2004.
The scheme was allocated RM800 million to help SMEs with viable businesses but otherwise saddled with constraints of non-performing loans (NPLs).
Deputy Finance Minister Datuk Dr Ng Yen Yen said that 42 applications have been approved, five have been rejected and 55 are under review.
Ng said the government is committed to help SMEs grow their businesses and build the sector as the backbone of the country's manufacturing landscape but many SMEs still lack the financial disciplines and business acumen to manage their companies efficiently.
As a result, many of the development programmes and financial incentives introduced by the government for the industry remain underutilised.
