SME Factors To Expand Product Reach To The Private Sector
KUALA LUMPUR, Jan 25 (Bernama) -- SME Factors Sdn Bhd plans to expand its product reach to the private sector by the second half of this year, said its managing director, Syed Zed Al Qudsy.
Syed Zed said the company currently has a strategic collaboration with Malaysia Building Society Bhd (MBSB) to disburse a total of RM500 million in financing, backed by MBSB, to small and medium enterprise (SME) contractors servicing the government and government-linked companies.
"By mid-2011, we expect to extend similar facilities to SME contractors dealing with private corporations as well," he said in a statement here today.
He said the company was currently in talks with a number of financial institutions and would announce the partnerships in the next few months.
SME Factors provides cash flow solutions and financing to SMEs of all types, industries and sizes, from start-ups right to multi-million ringgit companies.
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