Signing Ceremony between CGC and Alliance Bank
On 1 June 2023, Credit Guarantee Corporation Malaysia Berhad (CGC) has extended its partnership of Portfolio Guarantee (PG) Schemes with Alliance Bank Malaysia Berhad (Alliance Bank), which was held at Four Seasons Hotel, Kuala Lumpur. This partnership is to launch a series of new Portfolio Guarantee schemes with a combined total allocation of RM1 billion in financing over the next 1 year to help Micro, Small and Medium Enterprises (MSMEs) to accelerate their growth with access to capital expenditure and working capital. This strategic partnership of Portfolio Guarantee (PG) was signed by CGC President & Chief Executive Officer, Datuk Mohd Zamree Mohd Ishak, and Alliance Bank’s Group Chief Executive Officer, Kellee Kam, and witnessed by CGC Chief Business Officer, Sean Tan and Alliance Bank’s Group Chief SME & Commercial Banking Officer, Raymond Chui Keng Leng. Datuk Mohd Zamree Mohd Ishak said in his speech, ”This RM1 billion Portfolio Guarantee scheme launched with Alliance Bank Malaysia Berhad is another important initiative taken by CGC to ensure that Malaysian MSMEs continue to have access to financing, enabling them to revive and rebuild their businesses post-pandemic. From 1st April 2022 to 30th April 2023, CGC has successfully launched a total of RM3.5 billion worth of Portfolio Guarantee/Wholesale Guarantee with Malaysian financial institutions and development financial institutions.” CGC stays committed to assisting MSMEs to build their business capabilities, with our focus anchored on driving MSME growth and development.