SJPP, SJKP SCHEMES PROVIDE INCLUSIVE FINANCING ACCESS FOR GIG SECTOR, FIRST-TIME HOMEBUYERS -- AMIR HAMZAH

PUTRAJAYA, 1 Mac (Bernama) -- Malaysia’s economic resilience and progress depend on inclusive financing access, something that is easily overlooked by those working in the formal sector, according to Finance Minister II Datuk Seri Amir Hamzah Azizan.

“However, there are thousands of businesses and individuals that face difficulties in obtaining the loan approvals they desperately need to grow their businesses or to own a home,” he said in a post on Instagram today.

The minister said Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) and Syarikat Jaminan Kredit Perumahan Bhd (SJKP), through the provision of government guarantee schemes for obtaining financing facilities, empower small and medium enterprises (SMEs), strengthen Bumiputera businesses, and support first-time homebuyers.

Amir Hamzah noted that since its establishment in 2009, SJPP has facilitated RM102 billion in SME financing, benefitting some 75,000 small business owners.

As for SJKP, the Minister of Finance Incorporated-owned company has helped about 76,000 first-time house buyers obtain housing loan financing totalling RM17.8 billion since its inception in 2007.

“These figures prove the effectiveness of the government's targeted initiatives as well as the high demand for this financing support,” he said.

He added that Budget 2025 has allocated an additional RM20 billion in guarantees through SJPP for SME financing, particularly in the halal, high technology, environmental, social and governance (ESG), and tourism sectors.

Of the amount, RM5 billion is specifically allocated for Bumiputera businesses to ensure fairer and more equitable growth opportunities.

He said the additional RM10 billion in guarantees under SJKP for 2025 will help more gig workers, small business owners, and informal sector workers in obtaining housing loans.

“This is expected to benefit over 20,000 Malaysians to own their first home," he said.

Amir Hamzah said that equitable access to financing is a key catalyst towards achieving the MADANI economy’s goal, aimed at expanding economic opportunities, promoting financial inclusion, and ensuring a fairer distribution of wealth.

-- BERNAMA