PMB Tijari Bhd targets to distribute RM100 million in Shariah-compliant financing by end of this year, compared to RM70 million distributed in 2019 to Bumiputera entrepreneurs.

The Pelaburan Mara Bhd’s (PMB) financial services arm has distributed nearly 40% of the RM100 million allocated this year to six Bumiputera entrepreneurs nationwide in the first seven months of 2020.

“Considerations in adjusting financing in the context of Covid-19, we give more attention to affected industries such as automotive, construction and logistics.

“We also increased the limit of financing from the maximum amount of RM5 million previously to RM10 million,” PMB Tijari CEO Wan Sazriz Wan Zaid (picture) told selected media in Kuala Lumpur yesterday.

Since PMB Tijari’s establishment in 2014, it has approved total financing of RM200 million.

Wan Sazriz said due to the Covid-19-induced Movement Control Order (MCO), many small and medium enterprises (SMEs) are facing difficulties to sustain their business and repay bank borrowings.

“We make it easier for SMEs to obtain loans for the completion of projects and contracts awarded to their companies. Our assessment is not solely on a financial record basis.

“Rather than assessing the companies based on their track record, PMB Tijari banks on the technical expertise of the company’s personnel,” he said.

A good example of this is Mohd Aidy Hisham Abdullah, the ED of NSS IT Solution Sdn Bhd. The company specialises in providing IT solutions for public transportation.

One of its solutions is a centralised ticketing system which is used at the Terminal Bersepadu Selatan in Kuala Lumpur and Larkin Sentral bus terminal in Johor Baru.

Mohd Aidy said the group faced challenges during the MCO period due to very low numbers of ridership, especially at the Melaka Sentral bus terminal which it also manages besides providing the system.

Enviro Exceltech Sdn Bhd ED Mohd Azuan Ghazali said the group is utilising financing by PMB Tijari to buy machinery from the US, Italy, Germany and Netherlands.

Enviro Exceltech specialised in system integration and services for environmental monitoring systems, gas metering systems and food supplies machines, he added.

“We don’t have a factory here. Most of the machines are exported. However, we managed to get supply thanks to PMB Tijari’s strong support and assistance.

“We have received financing from PMB Tijari since 2018 and we already utilised almost RM2 million,” he said.

https://themalaysianreserve.com/2020/07/28/pmb-tijari-to-distribute-rm100m-financing/

-The Malaysian Reserve-