JOHOR STATE SMES & MICRO ENTERPRISES FINANCING SCHEME TO BE FINALISED NEXT MONTH

JOHOR BAHRU, Jan 27 (Bernama) -- The Johor State Financing Scheme initiative to help the Small and Medium Enterprises (SMEs) and Micro Enterprises is expected to be finalised next month, Johor Menteri Besar Datuk Onn Hafiz Ghazi said.

He was also optimistic that the scheme, through the outcome of discussions with Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat), would be able to further stimulate the economy in the state.

“After the discussions with the delegation from Bank Rakyat, the state government has agreed to facilitate the Johor State Financing Scheme for SMEs and Micro Enterprises to ensure the continuity of the businesses of this segment.

“The loan financing is from RM50,000 to RM500,000. To continue to help the entrepreneurs, the state government will bear 100 per cent the loan interest rate for micro enterprises and almost half of the interest rate for SMEs,” he said in a statement today.

Onn Hafiz said the cooperation with the bank which has assets of more than RM115 billion and is an agency under the Ministry of Entrepreneur Development and Cooperatives (KUSKOP) would be able to assist the state government in driving the economy in the state and to be in tandem with efforts in further elevating the performance of other industries.

“The state government views the challenges faced by the SMEs and micro enterprises seriously. We hope this initiative will become a catalyst that enables them to continue expanding in the future,” he said.

-- BERNAMA