KUCHING – A newly signed Memorandum of Understanding (MoU) between Affin Group and Credit Guarantee Corporation Malaysia (CGC) marks the launch of a RM500 million five-year financing initiative for micro, small, and medium enterprises (PMKS) and mid-tier companies (MTCs) nationwide, with particular emphasis on Sabah and Sarawak.
Although the programme is national in reach, CGC President and Group CEO Datuk Mohd Zamree Mohd Ishak highlighted its symbolic signing in Kuching as a clear commitment to strengthening business financing access in East Malaysia.
He noted that these states are still developing relative to Peninsular Malaysia, necessitating tailored support. Under the framework, RM300 million is earmarked for BizJamin, supporting established MTCs and PMKS with loan guarantees.
Meanwhile, RM50 million each is allocated for start-ups via BizDana, sector-specific initiatives, low-carbon transition assistance, and the PG Visa Business Card facility. Zamree clarified that these allocations are initial guidelines and may be adjusted to address the varying needs of eligible businesses.
Datuk Wan Razly Abdullah, President and Group CEO of AFFIN Group, acknowledged Sarawak’s robust trajectory, noting year-on-year growth of around 50% in loan demand.
He described this as a positive indicator aligning with Sarawak’s ongoing developmental agenda. Sabah, according to Razly, is likewise emerging strongly thanks to focused efforts in tourism and economic strengthening.
AFFIN Bank will also expand its footprint in the state, opening its 13th branch in Sarawak at Hikmah Exchange, Kuching, opening soon.
Business owners across Malaysia are encouraged to visit any AFFIN or CGC branch for credit evaluation, with the possibility of expanding the financing pool should demand be high.
The MoU was signed by Wan Razly, Dato’ Paduka Syed Mashafuddin Syed Badarudin (CEO, Affin Islamic Bank), and Datuk Mohd Zamree, with the agreement witnessed by Sarawak State Finance Secretary Datuk Sri Dr Wan Lizozman Wan Omar, and leaders from AFFIN and CGC.
