Malaysia to set up SME development bank
Malaysia will set up a development bank to assist small- and medium-sized enterprises (SMEs) in 2005, Prime Minister Abdullah Ahmad Badawi said.
Malaysia will set up a development bank to assist small- and medium-sized enterprises (SMEs) in 2005, Prime Minister Abdullah Ahmad Badawi said.
AXA Affin Assurance Bhd has expanded its insurance products with the launch of trade credit insurance on 31 January, which covers losses from non-payment of debts due to commercial and political risks.
The Bumiputra Manufacturers and Services Industry Association of Malaysia (PPIPBM) said banks stand to gain more from helping small- and medium-sized enterprise (SME) debtors turn around their businesses than from punishing them.
Hong Leong Assurance Bhd (HLA) expects its new export trade credit insurance policy to bring in some RM3m premium by the end of its 2005 financial year.
Government will subsidise interest rates on bank loans to small- and medium-sized enterprises (SMEs) to encourage further lending said Deputy Finance Minister Datuk Dr Ng Yen Yen.
The National Small and Medium Enterprise Development Council has agreed to the introduction of an interest subsidy and securitisation of small-and medium-sized enterprise (SME) loans to encourage further lending by financial institutions to the se
HSBC Bank Malaysia Bhd (HSBC) will open more commercial banking centres throughout the country as part of a move to enhance its small- and medium-sized enterprise (SME) business and boost profitability.
Since the 1970s, the government had imposed various regulations to give an edge to local lenders.
The banking industry gave out 5 per cent more loans to small- and medium- sized enterprises (SMEs) for the first nine months of this year compared with the same period last year.
Deputy Finance Minister Datuk Dr Ng Yen Yen has urged banks to help small- and medium- scale enterprises (SMEs), including those that undertake risky ventures, to get off the ground.