Hong Leong Bank Berhad (HLB) signed a strategic partnership agreement with Credit Guarantee Corporation Malaysia Berhad (CGC), to participate in their Portfolio Guarantee (PG) scheme to offer financing of up to RM200 million to Small and Medium Enterprises (SMEs).\u00a0<\/p>\n
According to Domenic Fuda, Group Managing Director and Chief Executive Officer of HLB, the Bank recognizes the important role that SMEs play in the growth and progress of the country and its economy.\u00a0<\/p>\n
\u201cAs a community Bank, we are proud to support the growth of SMEs in Malaysia and we aim to be their one stop business management solutions provider for all their business needs.\u201d said Domenic.\u00a0<\/p>\n
\u201cWe recognize that the main challenge SMEs face today is obtaining unsecured loan facilities, in order to grow their businesses. Through this portfolio scheme, SMEs who have viable business models but lack the relevant collaterals in obtaining the required credit facility can now have access to financing; which can provide them the necessary uplift to kick start and grow their business.\u201d he continues.\u00a0<\/p>\n
\u201cIt is important that we extend the relevant support to SME so that they can focus on optimizing their opportunities while running their business efficiently. As part of our aim to be a one-stop business management solutions provider, the SMEs who secure financing from HLB through this scheme, will also have access to our business management tools such as the recently launched Connect First<\/i>,\u201d added Domenic.<\/p>\n
HL\u2019s Connect First<\/i> is an advanced digital banking channel that is catered for companies who can easily conduct their own banking and business management services including account management, payables, receivables, liquidity management, trade, treasury management, e-investment and e-procurement.\u00a0<\/p>\n
HL\u2019s Connect First<\/i> also provides an embedded HR solutions software that is known as \u2018Kakitangan.com\u2019, so that SMEs can efficiently manage their payroll accounts, Employee Provident Fund, Inland Revenue Board of Malaysia and Social Security Organisation submissions.\u00a0<\/p>\n
\u201cThe SMEs continue to be the impetus for growth and we congratulate CGC in their efforts to enhance this sector through their various loan and guarantee schemes. We have great pleasure in working with CGC in support of the SMEs and congratulate them for their various programmes in uplifting the SME sector.\u201d In line with its strong entrepreneurial heritage, Hong Leong Bank strives to provide support and banking solutions to SMEs, by understanding their business challenges and requirements for growth.<\/p>\n
\u201cThis agreement which is made possible via our partnership with CGC is yet another example of how Hong Leong Bank synergizes financing and Connect First\u2019s<\/i> hassle-free solutions, to enhance our customers\u2019 journey, supporting them closely every step of the way. Hong Leong Bank remains committed towards supporting the growth of Malaysia\u2019s SME segment, in helping SMEs achieve their business objectives and in turn contributing to the nation\u2019s future economic growth,\u201d added Domenic.<\/p>\n
\u201cWe are pleased to ink our maiden partnership with Hong Leong Bank, which shares the same objective as we do – assist SMEs in achieving their business goals by addressing their financial needs. CGC\u2019s commitment towards SMEs span over four decades and we have to date offered numerous financing options to suit the requirement of the SMEs; particularly the clients of our banking partners through innovative Portfolio Guarantee (PG) scheme,\u201d said CGC\u2019s President and Chief Executive Officer Datuk Mohd Zamree Mohd Ishak.<\/p>\n
\u201cWith this collaboration, SMEs will now have more options to consider accessing financing for their business,\u201d said Zamree.\u00a0<\/p>\n
Zamree added that the scheme would also be made available through CGC\u2019s imSME, Malaysia\u2019s first online SME financing\/loan referral platform, which matches eligible SMEs to suitable financing products that are offered by the participating banks. The imSME was launched by the Minister of Finance II, Datuk Seri Johari Abdul Ghani recently.\u00a0\u00a0<\/p>\n
\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
Hong Leong Bank Berhad (HLB) signed a strategic partnership agreement with Credit Guarantee Corporation Malaysia Berhad (CGC), to participate in their Portfolio Guarantee (PG) scheme to offer financing of up to RM200 million to Small and Medium Enterprises (SMEs).\u00a0 According to Domenic Fuda, Group Managing Director and Chief Executive Officer of HLB, the Bank recognizes […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[],"class_list":["post-1525","post","type-post","status-publish","format-standard","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/1525","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/comments?post=1525"}],"version-history":[{"count":1,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/1525\/revisions"}],"predecessor-version":[{"id":4894,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/1525\/revisions\/4894"}],"wp:attachment":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/media?parent=1525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/categories?post=1525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/tags?post=1525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}