MIDF will be providing RM150mil for SLSAM
Malaysian Industrial Development Finance Bhd (MIDF) is providing RM150mil in 2016 for the Soft Loan Scheme for Automation and Modernisation (SLSAM). Deputy Minister of Trade and Industry, Datuk Ahmad Maslan, said the allocation was part of the RM750mil set aside for the scheme under the 11th Malaysia Plan.
Launched in February 2007, SLSAM assists manufacturing companies to modernise and automate their manufacturing processes, upgrade production capability and capacity, diversify into higher value- added activities and aid in productivity improvement.
Companies eligible for the scheme must be from the manufacturing sector and should be incorporated under the Companies Act 1965 with at least 51% equity held by Malaysians, have a valid business licence and have been in operation for at least two years.
The financing amount was between RM50,000 and RM10mil per application. The interest or profit rate is 4.0% per annum on yearly rest (SMEs) and 5.0% per annum on yearly rest. (Non-SMEs).
January 3, 2016 / /
Categories: loan news