PETALING JAYA: Corporate Guarantee Corporation Malaysia Bhd (CGC) expects to see its direct lending fund of RM100 million grow by at least 30 per cent in 2017.
The revolving direct lending fund, targeting Malaysian SME-startups, has been steadily growing since it began with a RM30 million allocation in 2014.
In 2015, the amount shot up to RM65 million, and this year, it hit the RM100 million mark.
Additionally, CGC chief business officer Leong Weng Choong said that the agency will be launching a new fund next year targeting Bumiputera SMEs.
He said this to reporters at the CGC Development Programme's workshop, entitled 'Entry to hypermarket' here today.
The workshop, featuring speakers from hypermarkets like Tesco and Giant, aims to help SMEs in the F&B (food and beverage) sector gain knowledge on how to go about getting shelf space in megastores, both locally and internationally.
At present, CGC's direct financing make up almost ten per cent of its total financing, while the rest of its business comprises credit guarantees (of businesses) as its name suggests.
CGC is 78.65 per cent owned by Bank Negara Malaysia (BNM), with the remaining 21.35 per cent owned by commercial banks in Malaysia.