Additional RM3 Billion Allocation For WCGS To Be Fully Utilised In 6 Months
KUALA LUMPUR, Feb 1 (Bernama) -- The additional RM3 billion allocation for Working Capital Guarantee Scheme (WCGS) under the 10th Malaysia Plan (10MP) is expected to be fully utilised in six months.
Malaysia SME Association's secretary-general Lee Teck Meng said the commercial banks have been proactive in helping SMEs to apply for the scheme since it was introduced, and a large number of Chinese SMEs applications were approved.
"We are glad that many Chinese SMEs submitted their applications and most of them obtained financing under the scheme.
"It is expected that the additional RM3 billion allocation will be fully utilised in 6 months," he told Bernama when contacted here Tuesday.
The scheme was first introduced in the second stimulus package in March 2009. It was fully utilised by year-end, despite being topped up from RM5 billion to RM7 billion.
In the view of encouraging response to the scheme, the government provided an additional RM3 billion under the 10MP, making it RM10 billion in total.
At the media briefing on the Third Economic Transformation Programme Update last month, Prime Minister Datuk Seri Najib Tun Razak said the latest Grant Thornton International Business Report showed that 50 per cent of medium to large enterprises were positive about Malaysia's economic prospects this year.
Lee hoped that 2011 will increase the consumption rate as well as economic growth.
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