KUALA LUMPUR: Malaysian Industrial Development Bhd (MIDF) will provide advisory services and financing facilities to small and medium-sized enterprises (SMEs) seeking to transform their businesses digitally.
Group managing director Charon Wardini Mokhzani said the firm's commitment would be carried out through several strategic partnerships, including Green Packet Sdn Bhd.
Charon said MIDF is committed to assisting SMEs in expanding their businesses and offers various soft financing options to assist them.
"One initiative is our soft financing scheme for digital and technology (SFDT), which assists SMEs that want to adopt or increase their utilisation of digital technologies to make themselves more competitive and efficient.
"Through a memorandum of understanding (MoU) with Green Packet, we will be able to reach more SMEs and provide them with the financing they need to be able to compete in the new digital world," he said at the virtual signing ceremony with Green Packet today.
SFDT financing offers up to 90 per cent financing or up to RM1 million, a repayment tenure of up to five years, and interest as low as 3 per cent per annum on a yearly reducing balance.
Charon said under the MoU, MIDF will provide financing facilities, where applicable, to potential and existing clients of Green Packet whose aim is to fast track their digital transformation journey.
He said the collaboration would also feature thought leadership events with MIDF and Green Packet, webinars, and workshops for potential and existing clients.
"This MoU could not come at a better time as the pandemic has put pressure on companies, especially SMEs, to reassess their business models and explore new opportunities and new ways of doing business.
"We must develop partnerships like this today to help revive the country's economic growth and safeguard economic structural reforms, particularly in facilitating the digitalisation process amongst SMEs, helping them transition into adopting digital technology and developing talents that meet the labour market demands in the near future," he said.
Green Packet group managing director CC Puan said the partnership reflects the company's commitment to supporting the SMEs with an enterprise suite of solutions that can help them smooth the transition towards contactless and cashless business environments.
"Our combined solutions with MIDF will provide avenues and opportunities for the Malaysian local business community to innovate further and digitise their business, to deliver value to customers and to ensure business continuity," said Puan.
Green Packet offers a range of financial services solutions through its subsidiary Kiplepay Sdn Bhd, a payment gateway service that authorises cashless payment for online businesses.
Further, the company's white-label e-Wallet solution is for clients looking to create their own branded e-wallet without the hassle of starting from scratch.
Apart from that, the e-Know Your Customer (e-KYC) solutions simplify the digital onboarding process for customers by verifying their credentials and identity and more.
Green Packet also offers solutions under its Urban Tech segment, which offers technology-enhanced property products and delivery of customised property technology solutions.