Petaling Jaya, 30th Oct – Credit Guarantee Corporation Malaysia Berhad (CGC) is pleased to announce the appointment of Ong Eng Bin as its non-executive director.

Ong brings with him vast experience in the area of corporate banking. His career in corporate banking that spans 26 years started at OCBC Bank in 1988.

In 2004, he was appointed as Head of Corporate Banking, and later promoted to Head of Business Banking in 2012, with responsibilities covering corporate and commercial, emerging business and transaction banking.

In August 2014, Ong was appointed as the Chief Executive Officer of OCBC Bank Malaysia Berhad.

Apart from his role in OCBC Bank, Ong is also a council member of The Association of Banks in Malaysia.

Currently, Ong serves as a Director at e2 Power Sdn Bhd, Ban Hong Leong and Company Sdn Bhd, Malaysia Nominees (Asing) Sendirian Berhad, Malaysia Nominees (Tempatan) Sendirian Berhad and OCBC Nominees (Malaysia) Sdn Bhd.

Ong holds a Bachelor’s Degree in Accounting & Finance from the University of Manchester, United Kingdom.

CGC has nine (9) board of directors with Dato’ Agil Natt as its Chairman.


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 Entrepreneur 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.