Fund For Foods Sector Malaysia – Skim Kredit Pengeluaran Makanan-i
Skim Kredit Pengeluaran Makanan-i (SKPM-i): Incentive to Develop the Background Of Food Industry In Malaysia
The food industry analysis in Malaysia shows that this is a country with a lot of potential in the food market. First, it starts with agriculture. Malaysia has the needed climate for a large production of food crops. The paddy production in Malaysia could bring in a lot more than people expect it to bring. This is the reason food business in Malaysia attracts more SMEs. And also, both government and private sector brought in many incentives to innovate the market more. Among them is the Skim Kredit Pengeluaran Makanan-i (SKPM-i). An incentive every SME in Malaysia should know about, today we talk about it in details.
Skim Kredit Pengeluaran Makanan-i: What Is It All About?
The Skim Kredit Pengeluaran Makanan-i (SKPM-i) is an incentive from Agro Bank Malaysia, which has been helping food production based SMEs to increase their productivity and the market reach. With this program, SMEs receive a loan of up to 100% of the total project cost, which could reach a maximum of RM500, 000. The rate has been fixed at 3.7% per annum, and the duration is of 8 years. Besides, to receive the fund benefits, an SME should work in any food production activity moderated by the Ministry of Agriculture & Agro-Based Industry Malaysia, or any state government or government agency.
Before applying for the Skim Kredit Pengeluaran Makanan-i, you have to fulfill these prerequisites.
- The company should be incorporated in Malaysia with SSM under Akta Syarikat 1965.
- The company can be a sole proprietorship or partnership.
- Have a valid business premise license.
- Only Malaysian citizens are allowed to apply for the program.
- The project could be individual or non-individual. Still, it needs to be primarily based on the food business.
- The company should have at least 51% Malaysian ownership.
- The project should be scalable.
- You could move on to applying for the program if you fulfil the above requirements.
If you wish to get more information about setup a company, you can read more about article on incorporate your business in Malaysia.
To apply for the program, first, gather all the documents that show you meet the requirements needed for the program. This includes a company profile, incorporation certificate, and copy of NRIC cards and a record of profit/loss. You will need to having the project details, market analysis, and goals. Basically for showing that it is worthy to invest into the project.
After gathering all the documents and application, approach the nearest branch of Agro Bank Malaysia and fill an application form, submit it along with your documents. After that Agro Bank will slate an interview. Besides, an Agro Bank employee might also visit the project area/premises for inspection. You will get the funds once your application is approved.
For more information or queries, you could consider the nearest Agro Bank branch or contact them in this address.
Bangunan Agrobank, Leboh Pasar Besar
Peti Surat 10815, 50726 Kuala Lumpur
Fax: 603-2691 7790
Well, this was it for Skim Kredit Pengeluaran Makanan-i. I hope this article will help you.