Petaling Jaya, 30 Jan – Credit Guarantee Corporation Malaysia Berhad (CGC) is pleased to announce the appointment of Dato’ Hj Syed Moheeb Syed Kamarulzaman as its independent non-executive director recently.

Dato’ Hj Syed Moheeb brings with him vast experience in the area of conventional insurance and takaful as well as Islamic financing. Dato’ Hj Syed Moheeb is a chartered insurance practitioner, an associate of the Malaysian Insurance Institute as well as a Practising Member of the Association of Chartered Islamic Finance Professionals (ACIFP).

His career in the conventional insurance, reinsurance and takaful industry spans 38 years where he has helmed several local and multinational direct insurance and reinsurance companies.

Currently, Dato’ Hj Syed Moheeb is a board member of the Asian Institute of Finance (AIF), the umbrella body of Malaysia’s finance industry’s training institute, and the Malaysian Insurance Institute (MII). He also sits on MII’s Executive Committee.

He is also a member of the Professional Development Panel (PDP) of the International Centre of Education in Islamic Finance (INCEIF), a global university for Islamic Finance, as well as the Academic Quality Assurance Committee (AQAC) of INCEIF and Accreditation Committee of Asian Institute of Finance.

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 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 three (3) years, CGC has registered an increase in its net profits ranging from RM15.6 million in 2010 to RM160.8 million in 2012.

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 and 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 42 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.