SME Factors to set up fund for private sector

Source From (The Sun Daily): http://www.thesundaily.my/news/402172

Published: on 09 Jun 2012

PETALING JAYA (June 8, 2012): SME Factors Sdn Bhd aims to set up a fund to cater to the private sector within the next three to six months, said its president and CEO Syed Zed Al-Qudsy.

He said the company acknowledges the difficulties faced by the private sector to get funds and aims to give it a viable option.

"We are now finalising the amount of the fund but it would be higher than the RM200 million credit facility we launched recently under the SME Success," he said at the company's hi-tea session here today.

He said currently, about 10-15% of the company's clients were from the private sector and the numbers had been increasing every month.

"As we launch more products for the private sector, our client mix would be balanced," he said.
The company, he said, also aimed to open five centres -- Kuantan, Penang, Johor Baru, Kuching and Kota Kinabalu -- by year-end as well as doubling its client base from 2,000 currently.

COO Marazizi Omar said it was timely for the company to open these branches to serve the increasing clients better as well as attracting new ones.

He said the company also planned to organise the SMEsuccess Seminar, a new business financial product training package for Persatuan Badan Berkanun Malaysia members registered under the SME Success programme.

The seminars, to be conducted nationwide, aim to educate vendors and contractors on the various financial products available under the SMEsuccess programme. – Bernama