BUMI FIRMS CAN AC­CESS RM500M FUND

Ter­aju, CGC and SJPP to help con­trac­tors ob­tain loans from SME Bank and RHB Is­lamic GOH PEI PEI KUCH­ING bt@me­di­aprima.com.my

New Straits Times - - Business / News -

BU­MI­PUT­ERA com­pa­nies with a min­i­mum thresh­old of RM500,000 which are in­volved in the con­struc­tion of the Pan-Borneo High­way in Sabah and Sarawak can each ob­tain up to RM500 mil­lion fa­cil­i­ta­tion fund, says Works Min­is­ter Datuk Seri Fadil­lah Yu­sof.

He said the Bu­mi­put­era Agenda Steer­ing Unit (Ter­aju), Syarikat Jami­lah Per­ni­a­gaan Bhd (SJPP) and Credit Guar­an­tee Cor­po­ra­tion (CGC) would pro­duce govern­ment and credit guar­an­tees to help Bu­mi­put­era con­trac­tors ob­tain com­mer­cial fi­nanc­ing from SME Bank and RHB Is­lamic Bank Bhd.

“Both banks will of­fer the funds to con­trac­tors, while a spe­cial (loan) guar­an­tee will be given by CGC and SJPP.

“This is part of Ter­aju’s ini­tia­tive un­der the ‘Carve Out and Com­plete’ ap­proach, which is in line with the govern­ment’s ef­forts to pro­vide a con­ducive ecosys­tem to stim­u­late Bu­mi­put­era par­tic­i­pa­tion in the econ­omy,” said Fadil­lah.

“More than 300 Bu­mi­put­era com­pa­nies and con­trac­tors are ex­pected to ben­e­fit from the fund.”

The Works Min­istry would mon­i­tor the progress of the multi­bil­lion Pan-Borneo High­way project to en­sure it would be com­pleted on time and on bud­get, he said af­ter wit­ness­ing the sign­ing of a mem­o­ran­dum of un­der­stand­ing (MoU) be­tween SME Bank, RHB Is­lamic, CGC and SJPP, here, yes­ter­day.

Works at all 12 pack­ages for first phase of the project in Sarawak have been go­ing on smoothly, with most of them be­ing ahead of sched­ule.

“So far, ev­ery­thing is on track ex­cept for two (pack­ages) — the Se­rian round­about-Pantu in­ter­change and Nyabau-Bakun stretch.

“These two pack­ages are slightly de­layed due to land is­sues,” he said.

How­ever, Fadil­lah has in­structed the land and sur­vey depart­ment to re­solve the is­sues im­me­di­ately.

“I want to en­sure that the project is com­pleted on time and on bud­get.” Ear­lier, Ter­aju chief ex­ec­u­tive of­fi­cer (CEO) Datuk Husni Salleh said the loan ar­range­ment would im­prove and strengthen the abil­ity of Bu­mi­put­era con­trac­tors to par­tic­i­pate di­rectly in the high­way’s de­vel­op­ment through com­pet­i­tive fi­nanc­ing pack­ages and min­i­mal col­lat­eral re­quire­ments to help mo­bilise the awarded jobs.

“This will not only help spur the lo­cal value-chain but also cre­ate more high-skilled tal­ents among the lo­cal Bu­mi­put­era,” he said.

At the MoU sign­ing, SME Bank was rep­re­sented by its chief op­er­at­ing of­fi­cer Datuk Ka­malud­din Is­mail, RHB Is­lamic by its di­rec­tor and CEO Datuk Adis­sadikin Ali, CGC by its pres­i­dent and CEO Datuk Mohd Zam­ree Mohd Ishak and SJPP by its man­ag­ing di­rec­tor Dr Nungsari Ah­mad Radhi.

Datuk Seri Fadil­lah Yu­sof

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