Syarikat Jaminan Pembiayaan Perniagaan Bhd Approves RM1.59 Bln In Financing Guarantees For MSMEs -- MITI

KUALA LUMPUR, Oct 23 (Bernama) -- Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) has approved RM1.59 billion in financing guarantees as of Sept 30 2024 for micro, small and medium enterprises (MSMEs) in the green economy, high technology and halal fields from a RM20 billion guarantee fund allocation.

In a response on Parliament's website, the Investment, Trade and Industry Ministry (MITI) said the fund benefited 998 applicant companies, of which 141 were under the green economy category and 857 under high technology.

MITI was responding to Tan Hong Pin (PH-Bakri) who asked if there are plans to establish a national environmental, social and governance (ESG) fund to fund programmes to help small and medium enterprises raise their carbon reduction capabilities.

MITI said a RM200 billion financing provision by banking institutions coordinated by Bank Negara Malaysia was also among the incentives under Budget 2024 to encourage the transition to a low-carbon economy.

There was also a tax deduction of up to RM50,000 on ESG-related expenses from 2024 to 2027 coordinated by the Finance Ministry.

"(There was an) additional tax deduction of up to RM300,000 for expenses incurred for monitoring, reporting and verification, especially for the development of carbon projects coordinated by the Malaysian Green Technology and Climate Change Corporation (MGTC) and Bursa Malaysia," added MITI.

-- BERNAMA