SME Asia
14 March 2025
Govt Allocates Additional RM10 Bil for Housing Credit Guarantee Scheme
The allocation for the Housing Credit Guarantee Scheme under the Syarikat Jaminan Kredit Perumahan Bhd (SJKP) will be increased by RM10 billion this year to benefit more than 20,000 borrowers.
Finance Minister II Datuk Seri Amir Hamzah said the increase takes into account the current economic trends with more people working in the informal sector as gig workers, as the MADANI government is aware of the financing challenges faced by those without a fixed income in purchasing their first home.
He added that as part of Budget 2025, the government allocated RM20 billion to Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) for SME financing.
“This allocation is expected to guarantee up to 80% of financing by SMEs, particularly for those in key sectors such as halal, high technology, tourism as well as environmental, social and corporate governance (ESG),” he said.
Amir Hamzah also mentioned that this year, SJPP will provide more comprehensive financial support for key sectors, including easier access to financing, support for innovation, promotion of sustainable practices and enhancing Malaysia’s tourism appeal on the global stage.
This would help to drive sustainable economic growth, create job opportunities and position Malaysia as a key hub for the halal and high-tech sectors, in line with EDG aspirations.
“Additionally, RM5 billion out of the RM20 billion guarantee under SJPP will be allocated to Bumiputera companies to strengthen the Bumiputera business community, enhance product marketability and improve their competitiveness both domestically and globally.
“Empowering Bumiputera entrepreneurs remains a key focus to ensure greater economic participation and equitable wealth distribution, including initiatives for entrepreneurship development, improved access to financing and stronger Bumiputera presence in high-value industries,” he continued.
According to him, the government is expanding the halal ecosystem, encompassing the food, pharmaceutical, cosmetic and Islamic financing sectors to strengthen Malaysia’s role as a global halal hub.
“Investments in halal certification, research and trade collaborations will further enhance the country’s competitiveness in this trillion-ringgit industry,” he said, pointing out that up to December 2024, over 75,000 SMEs received financing guarantees totaling over RM102 billion.
In 2024 alone, over 14,000 SMEs secured financing approvals worth RM18.5 billion and over 76,000 applications were approved under SJKP, with total financing exceeding RM17.8 billion since its inception.
(Web Source: https://sme.asia/govt-allocates-additional-rm10-bil-for-housing-credit-guarantee-scheme/)