Bank Negara Malaysia will start promoting its Small Debt Resolution Scheme (SDRS) to small- and medium-scale enterprises (SMEs) by the end of the month, Deputy Finance Minister Datuk Dr Ng Yen Yen said yesterday.
The fund was set up in November last year with an allocation of RM800 million to help SMEs with viable businesses but are saddled with constraints of non-performing loans (NPLs).
"The purpose is to help SMEs that are constrained by NPLs to restructure their loans and obtain new financing," Dr Ng said at a press conference after opening the American Malaysian Chamber of Commerce's Sixth Annual Strategic Outlook Conference 2004 yesterday.
She cautioned that SMEs should apply to SDRS only after their applications to other banks have been rejected, therefore treating this fund as a last resort.
The products and services offered by the respective SMEs should have the potential to compete if funding is available and the business should be ongoing...
