Govt Allocates Additional RM10 Bln For Housing Credit Guarantee Scheme - Amir Hamzah

KUALA LUMPUR, Feb 27 (Bernama) -- The allocation for the Housing Credit Guarantee Scheme under the Syarikat Jaminan Kredit Perumahan Bhd (SJKP) will be increased by RM10 billion this year, benefitting more than 20,000 borrowers.

Finance Minister II Datuk Seri Amir Hamzah said the increase takes into account current economic trends, with more people working in the informal sector as gig workers.

Speaking at the launch of the Budget 2025 Initiative – Allocation for Business Financing Guarantee Scheme and Housing Credit Guarantee Scheme, he said the MADANI government is aware of the financing challenges faced by those without a fixed income in purchasing their first home. 

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He added that as part of Budget 2025, the government has allocated RM20 billion to Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) for small and medium enterprise (SME) financing.

“This allocation is expected to guarantee up to 80 per cent 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 said 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.

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This would drive sustainable economic growth, create job opportunities, and position Malaysia as a key hub for the halal and high-tech sectors, in line with ESG aspirations, he said.

“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 said.

Amir Hamzah also highlighted that 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.

He also noted that since SJPP’s establishment in April 2009 up to December 2024, more than 75,000 SMEs have received financing guarantees totaling over RM102 billion.

“In 2024 alone, over 14,000 SMEs secured financing approvals worth RM18.5 billion,” he added.

Meanwhile, more than 76,000 applications have been approved under SJKP, with total financing exceeding RM17.8 billion since its inception in late 2007 until December 2024.

“Last year, over 36,000 applications with total financing of RM9.7 billion were approved,” he said.

-- BERNAMA