KUALA LUMPUR – Approximately 1,500 SME entrepreneurs get access to financing and capacity building programmes from SME Bank when they attended the SME Bank XCESS 2017 in Kuala Lumpur today. Launched by YB Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry, SME Bank XCESS 2017 is an annual Outreach programme designed to tackle the issue of access to financing for SME entrepreneurs.
SME Bank XCESS and its various Outreach programmes have proven to be effective when the Bank successfully approved financing closed to RM1 billion in 2016 under these initiatives. SME Bank XCESS 2017 is an annual event which specifically act as a one-stop centre for entrepreneurs to get direct assistance on their financing needs on one to one basis.
Group Managing Director, Datuk Mohd Radzif Mohd Yunus said, “XCESS 2017 is part of SME Bank’s effort in executing the SME Start-Up and Promotion Year as announced by the Prime Minister during the 2017 Budget Announcement”.
He added, “For XCESS 2017, we deployed 50 credit officers who are experts in their respective field of financing offered by SME Bank. In total, 700 one to one consultation sessions were conducted during SME Bank XCESS 2017”.
In addition, all agencies under MITI, Bank Negara Malaysia (BNM), The Secretariat for Empowerment of Indian Entrepreneurs (SEED), Secretariat for the Advancement of Malaysian Entrepreneurs (SAME), Celcom Axiata Berhad (CELCOM), UEM Group Berhad (UEMG), Chemical Company of Malaysia Berhad (CCM), Credit Guarantee Corporation (CGC), Simfoni IDM Sdn. Bhd. (Orizon), Syarikat Jaminan Pembiayaan Perniagaan Berhad (SJPP) and Sterling Insurance Brokers Sdn. Bhd. & Zurich Insurance Group were present and offered their assistance to the entrepreneurs who attended the event.
Since its inception in 2005 until December 2016, SME Bank has approved RM26 billion worth of financing to more than 15,000 customers. The Bank’s Upward Migration effort under the Specific Intervention Programmes has benefited more than 888 entrepreneurs, thus producing more sustainable SME entrepreneurs in the country. Through its wholly owned subsidiary Centre for Entrepreneur Development and Research Sdn. Bhd. (CEDAR) which complements the Bank’s developmental role on capacity building and capability development has successfully trained and coached more than 34,000 participants since its establishment in 2013.
SME Bank has been recognised at the international level to be the first Development Financial Institution (DFI) in Malaysia and ASEAN to be a member of The Montreal Group, an exclusive global forum for state-owned development banks focused on assisting micro, small and medium-sized enterprises. This shows that all the efforts SME Bank has undertaken in nurturing and developing Malaysia’s SMEs since its establishment in 2005 is being acknowledged and recognized. -MYNEWSHUB.CC