Exim Bank lent RM30m to restaurateurs over 4 years

Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/4EXIM/Article/

Published: September 10, 2012

PETALING JAYA: Export-Import Bank of Malaysia Bhd (Exim Bank) has disbursed a total of RM30 million over a period of four years to Malaysian restaurant entrepreneurs venturing outside Malaysia, said its managing director and chief executive officer Datuk Adissadikin Ali.

"So far, we have funded about 30 Malaysian restaurant owners who applied for the Malaysia Kitchen Financing Facility.

"The fund holds RM180 million of taxpayers' money, with Exim Bank the only government agency entrusted by the government to manage it," he said.

He also stressed that it is not a grant, but a soft loan with a flat interest rate of three per cent.

Adissadikin said although there is no maximum allowable loan amount, the largest loan so far is about RM7 million, and on average, Exim Bank approves around RM1 million per loan. Bernama