RAWANG, Dec 22nd, 2014 – Credit Guarantee Corporation Malaysia Berhad (CGC) brought cheer to 82 school-going children from Bukit Manchong Orang Asli Settlement with ‘Back to School’ Programme recently.

The programme was part of CGC’s Corporate Social Responsibility (CSR) initiative to assist Orang Asli families with school-going children with ‘back to school’ supplies.

This noble effort was facilitated in collaboration with Orang Asli Development Department (JAKOA) from the District of Hulu Selangor, whereby the children were provided with brand new school uniforms, bags and stationery worth about RM10,000 before the school session reopens next year.

CGC Executive Vice President Nazleena Nordin said with the contributions given, CGC hope to ease their financial burden for the upcoming school session of year 2015.

This contribution will bring the children something to cheer and also served as an inspiration to the Orang Asli school-going children in order to motivate them to study better, she added.

Secondary school girl, Johaniesa said the new school supplies came as perfect gift for her. I have been wanting to buy a new bag for secondary school, and the timing could not have been more perfect as it also served as a motivation to be a doctor one day, she added.

Each child received a pair of school uniform and shoes, with new school bags and stationery. The 82 school-going children compromised kindergarten, primary and secondary school levels.

Primary school girl, Suhala said with the new bag, she could pack more things into it as she used to carry a small bag before.

Nazleena said the main objective of the programme was to give back to the society and help the Orang Asli communities to uplift their standard of living through education.

She also said this was a total new experience altogether and meaningful as it was more than just handing over the contributions. This programme was to build the spirit of brotherhood amongst the staff of CGC and the Orang Asli community.

Prior the ‘back to school’ contributions programme, activities such as colouring contest, musical chairs and soccer match were also held with the school-going children, with participation of volunteers of CGC staff.

In 2014, CGC has contributed about RM 35,000 through the Corporate Social Responsibility programmes as part of its initiatives in giving back to the society.

On a greater scale, CGC has been in the forefront of assisting SMEs with viable business with access to financing. Through its guarantee system, it has financed more than 420,000 SMEs to date and this effort had uplifted the standard of living of thousands of Malaysians indirectly as the SMEs are one of the biggest employers in the country.

About CGC

Credit Guarantee Corporation Malaysia Berhad (CGC) was established on July 5, 1972. Current shareholders are Bank Negara Malaysia (major shareholder) and commercial banks. The core business focus of CGC is to assist SMEs, especially those without or with inadequate collateral and track record to obtain credit facilities from financial institutions by providing guarantee cover on such facilities. CGC has cumulatively guaranteed more than 420,000 loans valued at close to RM52.9 billion since its establishment.

Today, CGC is well on track to achieve its financial sustainability agenda as envisaged under its business transformation plan. In the last four (4) years, CGC has registered an increase in its net profits ranging from RM15.6 million in 2010 to RM121.1 million in 2013.

CGC, known as the ‘credit firm for the small man’ in its early years, focused on helping small enterprises in the agricultural, commercial and industrial sectors. As the Malaysian economy expanded over the years, the demand for CGC’s guarantee services also grew in tandem since its establishment in 1972. The range of products and services were also expanded to cater to larger credit facilities required by medium-sized SMEs.

CGC’s support for SME’s is not only confined to the provision of loan guarantees and financing facilities, but also credit information and credit rating services through its subsidiary Credit Bureau Malaysia. Through the Bureau, CGC assists SME’s to build a credit history and track record to enhance their credibility and bankability to secure financing on their own merit and at reasonable cost.

Other funds currently managed by CGC include the Green Technology Financing Scheme (GTFS) and the Bumiputera Entreprenuer Project Fund (TPUB-i) with a total allocation of RM3.5 billion and RM300 million respectively. To date, CGC had managed a total of 43 guarantee schemes including 16 government-funded schemes.

To date, 15 Islamic banks, 17 commercial banks and seven (7) development financial institutions (DFIs) are participating in CGC’s guarantee schemes, providing customers with a wide network of more than 2000 branches nationwide to avail financing.

SMEs wishing to obtain more information on CGC may call its Client Service Centre at 03-78800088 or visit www.cgc.com.my.