PETALING JAYA, 1 June – Credit Guarantee Corporation Malaysia Berhad (CGC) today honoured four (4) leading banks and 10 customers for their notable contribution towards SME financing in 2015 and excellent track record respectively at its SME Awards ceremony.
CGC recognised banks in five (5) different categories namely the Top FI Partners (overall category), Best Financial Partner, Top Bumiputera FI Partner, Top FI Partner for Islamic Banks and Top FI Partner for Development Financial Institutions (DFI). As part of CGC’s annual tradition, the awards presentation ceremony was held in conjunction with CGC’s 43rd Annual General Meeting.
The winners of the Top FI Partner Awards (overall category) were Maybank, Maybank Islamic, OCBC Al-Amin Bank Berhad and SME Bank. This award was presented to the respective banks for their significant contributions to CGC’s overall SME financing through its guarantee schemes.
Maybank Islamic also bagged the Best Financial Partner and Top Bumiputera FI Partner Awards for having contributed the most toward CGC’s asset quality and financing to Bumiputera SMEs. OCBC Al-Amin also won the Top FI Partner Award for Islamic Banks, while SME Bank bagged the Top FI Partner Award for Development Financial Institutions (DFI).
The award recipients were selected based on a set of criteria determined by CGC which include amongst others, the number and value of financing guaranteed, financing guaranteed to Bumiputera customers, net income growth and rate of default.
In terms of contributions to SME financing, the four (4) award recipients contributed about RM1.9 billion, representing 58% of the total financing and 5,150 financing representing 63% of the total number of financing approved by CGC respectively in 2015.
“The financial institution’s role is to promote an efficient, effective and sound financial sector capable of providing a wide range of customer-driven financial services including financing requirements of the SME sector”, said Datuk Johari Abdul Ghani, Deputy Finance Minister II, at the awards presentation earlier today.
He further stated that, “the financial sector also plays a central role in the growth and development of the economy through mobilisation and deployment of financial resources. I am pleased to acknowledge here that, in Malaysia, financial institutions have shown their commitment to the development of SMEs by going out of their way in establishing dedicated SME departments or units to provide customised financial services and capacity building initiatives for SMEs”.
He then commended CGC’s efforts by stating, “I admire the fact that CGC goes out of their way to appreciate their customers. They have allocated specific awards that are exclusively for their customers”.
In his welcoming speech, CGC’s Chairman, Dato’ Agil Natt said that CGC’s SME Awards is a tribute to the high level of commitment and excellence from the FIs who have stood by SMEs, weathered the odds of the economy and made access to financing readily available through innovative financing products which have become more diverse throughout the years. We, at CGC, hope that this award will continue to motivate the FIs to further assist our SMEs and also encourage more FIs to follow suit in ‘Powering Malaysian SMEs’.
CGC’s President/Chief Executive Officer, Mohd Zamree Mohd Ishak said the FIs played a major role towards the development of SMEs in the country. “We truly value the continued support given by FIs towards CGC in achieving our common objectives. The strategic partnership CGC had forged with the FIs had a great impact on our SME outreach initiatives in reaching out to a wider cross-section of the SME community in the country,” explained Zamree.
CGC had approved a total of 8,225 guarantee and financing valued at RM3.4 billion benefiting businesses mostly from the general businesses, manufacturing and agricultural sectors in 2015.
CGC’s President / Chief Executive Officer, Mohd Zamree Mohd Ishak further added that the success of CGC’s Portfolio Guarantee (PG) and Wholesale Guarantee (WG) Schemes have proven CGC’s ability to be an innovative partner in the SME ecosystem.
“We will continue to explore new opportunities and develop innovative financing options to further enhance our services to the SMEs. This is in line with our aspiration which is to be ‘the household name for SMEs by 2020′,” clarified Zamree.
In 2016, CGC targets to approve 8,650 financing valued at RM4.0 billion through its array of guarantee and financing products.
CGC’s Recognition for its Customers
Apart from the Top FI Partner Awards, CGC has also taken the initiative to recognise their valued customers who had ‘graduated’ from CGC’s guarantee schemes and demonstrated excellent credit track record.
CGC’s customers with good repayment track record on their financing facility and were offered rebates on guarantee fees received the Exemplary Customer Award whilst those who were once dependent on CGC’s guarantee but now no longer require the guarantee due to their creditable credit track record and success in business were awarded with ‘Excellent Customer Awards’.
“These recognitions were given to our customers to demonstrate our appreciation and to value their continued trust and support towards CGC,” said Zamree.
“It is also to encourage the SMEs to adopt a healthy credit culture by having good credit practices in conducting their accounts. From the SMEs point of view, this practice would illustrate a conscious effort being made to improve on their credit track record, credit rating and bankability,” added Zamree.
CGC’s SME Awards Ceremony was officiated by the Deputy Minister of Finance, YB Datuk Johari Abdul Ghani at One World Hotel, in Bandar Utama, Petaling Jaya. Also present at the awards ceremony were CGC’s Chairman, Dato’ Agil Natt, CGC Board Members, CGC’s President / Chief Executive Officer, Mohd Zamree Mohd Ishak, officials of Bank Negara Malaysia, representatives from the financial institutions, agencies, business associations and chambers.