RM500m for SMEs
MORE BENEFITS: Najib launches
syariah-compliant fund to boost innovation
AS part of a continuous effort to help small- and medium-sized
enterprises (SMEs) remain competitive, a syariahcompliant Commercialisation
Innovation Fund (CIF) was launched by Prime Minister Datuk Seri Najib Razak
yesterday.
The RM500 million fund is in addition to the RM2 billion fund
announced by Deputy Prime Minister Tan Sri Muhyiddin Yassin on April 24.
CIF, said Najib, was open to all 1-InnoCert (a certification for
innovative companies) firms with effect from July 1. The financial aid is to
help companies in innovating products or services that are at the
commercialisation stage.
The government would bear two per cent of the profit rate charged
on the financing provided by participating Islamic banks, Najib said at the
opening of the “Jom Niaga Selangor Chapter” event here yesterday.
SHAH ALAM: The event, jointly organised by the International Trade
and Industry Ministry and SME Corp, acts as a one-stop centre for the public to
get advice on how to start or succeed in business. Najib said there were
1151-InnoCert-certified companies, and SME Corp had been tasked by the
government, together with the Association of Banking Institutions Malaysia, to
manage and monitor the implementation of CIF through 13 Islamic financial
institutions.
He added that until the end of last year, financing of SMEs by
Islamic financial institutions had increased by 17.1 per cent to RM165.4
billion.
CIF, he said, was for SME financing application of up to RM5 million
and the two per cent rebate was offered to all SMEs engaging in syariah-
compliant businesses, except for financial services. Present at the “Jom Niaga”
event were Minister Datuk Seri Mustapa Mohamed, his deputy, Datuk Mukhriz
Mahathir, and Agriculture and Agro-based Industry Minister Datuk Seri Noh Omar.
Najib said Selangor’s development had to be seen in the right perspective.
He said the Parti Keadilan Rakyat-led state government should not
take credit for the development and successes of the state. A developed city
like Shah Alam was not built in four years, but took three generations to be
where it was today, he added. Selangor’s gross domestic product last year
totalled RM130 billion, or 22.1 per cent of the country’s GDP.
Najib, however, expressed concern that the Selangor government was
putting politics before the people’s welfare, referring to the impasse in the
Langat 2 water project negotiations and the 100 per cent rental hike imposed on
traders at the PKNS complex here.
“If it (the state government) does not give the development order
for the Langat 2 project to proceed, Selangor will face a water crisis. This
will jeopardise businesses and bring hardship to the people.”
Later, he answered two calls to the Barisan Nasional hotline
service centre (Pakar). The public can reach Pakar at 1-300-22-2626 from 9am to
6pm.
Najib, who is also state BN chairman, launched three other events
yesterday: Selangor BN’s song, Sayangi Selangor, Yakini BN; the establishment
of the National Artists Association (Bran); and flagged off the Selangor Taxi
Drivers Association, whose taxis bore BN flags.
Source : New
Straits Times
Date : 11 May
2012
afternoon
highlight (11/05/12/086/561)
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