KUALA LUMPUR, 7th March – Credit Guarantee Corporation Malaysia Berhad (CGC) today signed a Memorandum of Understanding (MOU) with The Secretariat for Empowerment of Indian Entrepreneurs (SEED), a unit under the Prime Minister’s Department.

The main objective of this MOU is to pave the way for both parties to have a mutual understanding on the cooperative relationship to further facilitate the growth and development of Indian SMEs and entrepreneurs in Malaysia.

CGC’s Senior Vice President of Corporate Services, Komathi Lalitha Veeriah said the signing of this memorandum will enable CGC and SEED to better serve the needs of the Indian businesses in terms of access to financing from the financial institutions.

Lalitha added that this MOU is in line with CGC’s vision to be an effective financial institution dedicated to promoting the growth and development of competitive and dynamic small and medium enterprises in the country.

Through this collaboration, SEED will act as a ‘lead generator’ by introducing newly registered or existing viable Indian SMEs and entrepreneurs to CGC for its consideration to facilitate their access to financing via its various guarantee and financing products.

To further assist the Indian SMEs, both parties have agreed to share information at their respective websites for ease of access to information on products and services offered by CGC.

The collaboration is also intended to facilitate CGC’s participation at selected SEED’s training programmes, seminars and roadshows to establish closer rapport with Indian SMEs and businesses and create greater awareness of CGC’s role in SME financing.

“Our participation at SEED’s programme will provide an opportunity for CGC to have a better understanding on the specific needs of the Indian SMEs and provide them the necessary financial assistance required”, said Lalitha.

To date, CGC had participated in several SEED’s events such as the Halal and Franchise Conference,  and also in their promotional activities through the mass media.

In 2015, CGC targets to provide RM3 billion of financing which is expected to benefit about 7,800 SMEs.