Four Leading Banks awarded the Top SME Supporter Awards for 2014
PETALING JAYA, 25th May – Credit Guarantee Corporation Malaysia Berhad (CGC) today honoured four (4) leading banks with Top SME Supporter Awards for their significant contribution towards SME financing in 2014 at its 20th Annual SME Supporter Awards presentation ceremony.
The awards ceremony held in conjunction with CGC’s 42nd Annual General Meeting recognised banks in four (4) different categories namely the Top SME Supporter (overall category), Top SME Supporter for Islamic Banks, Top Bumiputera SME Supporter and the Best Financial Partner.
The winners of the Top SME Supporter Awards were Maybank, Maybank Islamic, OCBC Al-Amin Bank Berhad and Standard Chartered Saadiq Berhad. This award was presented to the respective banks for their significant contributions to CGC’s overall SME financing through its guarantee schemes.
Maybank Islamic also bagged the Top SME Supporter award under the Islamic banks category and the Top Bumiputera SME Supporter award for having provided the most financing to Bumiputera SMEs.
For three years running, Maybank has bagged the Best Financial Partner Award for its contribution to CGC’s asset quality. For OCBC Al-Amin Bank Berhad and Standard Chartered Saadiq Berhad, this is their first ever award from CGC.
The award recipients were selected based on a set of criteria determined by CGC which include amongst others, the number and value of loans guaranteed, loans guaranteed to Bumiputera borrowers, net income growth and rate of default.
In terms of contributions to SME financing, the four awards recipients contributed RM1.7 billion, representing 53% of the total financing and 4,350 loans representing 64% of the total number of loans approved by CGC respectively in 2014.
CGC’s President and Chief Executive Officer, Mohd Zamree Mohd Ishak said that CGC’s SME outreach has improved significantly by 189% in terms of the number of loans and 105% in terms of value approved with the active participation of the financial institutions in its guarantee schemes.
CGC had approved a total of 6839 loans valued at RM3.2 billion benefiting businesses mostly from the general businesses, manufacturing and agricultural sectors in 2014.
“Financial institutions play a vital role in paving the way for CGC to reach out to a wider cross-section of the SMEs in view of their extensive distribution network,” said Zamree adding that the strategic partnership CGC had forged with leading FIs through its Portfolio and Wholesale Guarantee Schemes had a great impact in its overall SME outreach.
In 2014, CGC approved about 5,000 loans valued at RM2.1 billion via the Portfolio and Wholesale Guarantee Schemes.
He further added that the success of the Portfolio Guarantee and Wholesale Guarantee Schemes defines CGC’s ability to be an innovative partner in SME financing.
“We are also pleased to inform that CGC’s Wholesale Guarantee Scheme was recently awarded with the ‘Development Award 2015’ under the SME Development Category by ADFIAP, the Association of Development Financing Institutions of Asia and the Pacific during ADFIAP’s 38th Annual Meeting in Nha Trang, Vietnam. This international recognition is testimony to CGC’s ability to develop and deliver innovative financing solutions that have a great impact on SME development.”
“In line with our vision to be an effective financial institution dedicated to promoting the growth and development of competitive and dynamic SMEs, CGC will continue to enhance SME growth and development by exploring new partnerships and offering innovative financing solutions to improve SME outreach,” he added.
In 2015, CGC targets to approve 7850 loans with a value of RM3.0 billion through its array of guarantee and financing products.
The Top SME Supporter awards were presented by CGC Chairman, Dato’ Agil Natt and witnessed by CGC President and Chief Executive Officer, Mohd Zamree Mohd Ishak at CGC’s headquarters in Kelana Jaya today. Maybank was represented by its Group President/CEO, Datuk Abdul Farid Alias, Maybank Islamic Bank by Deputy CEO, En. Nor Shahrizan Sulaiman, OCBC Al-Amin Bank by its Managing Director/CEO Tuan Syed Abdull Aziz Jailani Syed Kechik and Standard Chartered Saadiq by its Senior Manager, Islamic Banking En. Mohd Suhaimi Abdul Hamid.
About CGC
Credit Guarantee Corporation Malaysia Berhad (CGC) was established on 5 July 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 about 430,000 loans valued at close to RM56.1 billion since its establishment.
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, 17 commercial banks, 15 Islamic 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 03-7880-0088 or visit www.cgc.com.my.
For Media Enquiries:
Corporate Communications Department,
Credit Guarantee Corporation Malaysia Berhad
- Kumaran
Assistant Vice President, Corporate Communications
HP: 016-638-1747
Email: [email protected]
Khairul Amri Aznan Wan Nur Hidayah Mohammed Akhir
Executive, PR & Media Relations Executive, PR & Media Relations
HP: 011-123-990-53 HP: 010-464-1753
Email: [email protected] Email: [email protected]