6 banks step forward to help SMEs

Redzuan Yusof (right) with deputy CEO of Tekun Ahmad Hambali Zainal Ahmad (second right) presents a mock cheque to a recipient at the Bumiputera Entrepreneur Empowerment Convention. (Bernama pic)

SEREMBAN: Six local banks have responded positively to the government’s efforts to help small and medium enterprises (SMEs), offering to finance these businesses, said
Entrepreneur Development Minister Redzuan Yusof.

The six banks are Malayan Banking, Bank Islam, RHB Bank, HSBC Bank, Exim Bank and United Overseas Bank.

“They are more confident of the ecosystem created by the new government which is more conducive for them to give assistance to SME entrepreneurs by knowing the sectors targeted by the ministry.

“These sectors are the agriculture, fisheries, manufacturing and value-added processing in preparation for export,” Redzuan told reporters after the Bumiputera Entrepreneur Empowerment Convention where he launched the Entrepreneur Development One-Stop Centre here today.

Redzuan said HSBC was providing RM2 billion in financing to benefit SME entrepreneurs.

“The bank’s focus is on sectors with high growth potential based on its experience as a global banking group. HSBC will use its international network to bring the products of local entrepreneurs to new markets,” he said.

He said the National Entrepreneurial Policy, to be launched by Prime Minister Dr Mahathir Mohamad in the second quarter of this year, was in the process of being detailed and documented.

Earlier, he presented a mock cheque worth RM1.18 million, representing business financing from the National Entrepreneur Group Economic Fund (Tekun) for 80 entrepreneurs from Negeri Sembilan for January 2019.