SME Bank to fully disburse RM1b Bumiputera Financing Fund by year-end

KUALA LUMPUR, April 9 — SME Bank Bhd hopes to completely disburse the RM1 billion Bumiputera Financing Fund (BFF) by year-end. Its Managing Director, Datuk Mohd Radzif Mohd Yunus, said demand for the fund, which was launched today, would depend on the momentum of divestment plans mounted by government-linked companies' (GLCs).

Source from (The Sun Daily): http://www.thesundaily.my/news/657095
Published: April 10, 2013

Source from (Bernama): http://www.bernama.com/bernama/v7/bu/newsbusiness.php?id=940640
Published: April 10, 2013

Source from (The Malaysian Insider): http://www.themalaysianinsider.com/business/article/sme-bank-hopes-to-complete-disbursement-of-bff-by-year-end/
Published: April 10, 2013

Its Managing Director, Datuk Mohd Radzif Mohd Yunus, said demand for the fund, which was launched today, would depend on the momentum of divestment plans mounted by government-linked companies' (GLCs).

Speaking after the launch of BFF by Ministry of Finance Deputy

Secretary-General Datuk Mat Noor Nawi, he said the RM1 billion fund was part of the RM2.25 billion that was given by the government to be channeled to entrepreneurs.

Radzif said the main aim of the fund, announced in Budget 2013, was to help small-and-medium enterprises (SMEs) acquire government-linked companies'

non-core assets.

The fund, which is shariah-compliant, is open to Bumiputera private companies or companies that meet the criteria set by the bank.

However, no limit is imposed on the quantum of financing available to SMEs. On the bank's performance, Radzif said SME bank was able to meet its targets.

"We've done well as a bank" he said, adding that it would announce its full-year results soon.

SME Bank returned to the black with a pre-tax profit of RM146.2 million in 2011.

-- BERNAMA