MIDF: We are ready to assist

KUALA LUMPUR: From its inception in March 1960, Malaysian Industrial Development Finance Bhd (MIDF) has by up to February 28 approved RM11.3 billion in financing to 8,721 local companies, particularly small and medium enterprises (SMEs).

Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/21MIDF/Article/
Published: April 22, 2013

MIDF said for more than half a century, it has assisted the country's industrial sector, such as providing financing to a local match manufacturer to the country's first satellite launch, with the main aim of creating job opportunities for Malaysians and, thereby, helping reduce the nation's dependency on imports and facilitate the local companies in penetrating the exports market.

"MIDF is now ready to assist local companies to ride the country's industrial development wave into a highly competitive economy, which calls for competitive and innovative companies in the marketplace," it said in a statement.

To help local companies expand their production or services through modernisation and automation, MIDF offers financing with a fixed interest rate of four per cent annually for the purchase of machinery, tools, factories and commercial property, the construction of factory or as working capital.

MIDF said the low and fixed interest rate and longer repayment period have enabled thousands of local companies to strengthen their cashflow so that they have stronger capacity and better confidence to compete effectively.

In line with its participation in the special edition of Minggu Amanah Saham Malaysia organised by Permodalan Nasional Bhd (PNB) from last Saturday to this Sunday in Perlis, MIDF and PNB organised a gathering of entrepreneurs called MIDF Entrepreneurs Symposium in Kangar yesterday.

Local entrepreneurs who are interested in MIDF financing in the manufacturing and services sectors can contact MIDF via email (inquiry-feedback@midf.com.my) or visit MIDF offices in Kuala Lumpur, Penang, Johor Baru, Kota Baru, Kuching and Kota Kinabalu.

Information about the financing can also be accessed from its website at www.midf.com.my