As Malaysia’s sole provider of guarantee schemes and ancillary services, Credit Guarantee Corporation Malaysia Berhad (CGC) plays an important part in helping small and medium enterprises with too little or no collateral access loans from financial institutions at reasonable cost. This was manifested during the global economic crisis, which affected Malaysia’s economy and hampered the flow of funds to SMEs.
CGC was incorporated as a limited company under the Malaysian Companies Act 1965 on July 5, 1972. Its current shareholders are Bank Negara Malaysia (Central Bank of Malaysia), which holds a nearly 80% stake, and commercial banks.
2009 saw CGC stepping up its operations to provide fresh capital and much-needed liquidity to Malaysian SMEs.
It administered a RM2-billion SME Assistance Guarantee Scheme to ensure that SMEs remain viable and have continuous access to financing during the difficult times. CGC also provided SMEs with restructuring and re-scheduling options to address their financial constraints in loan repayments.
It also forged partnerships with other financial institutions to help SMEs have continuous access to credit lines, and shorter processes and turnaround time for speedier disbursement of funds.CGC also developed new and competitively priced products to suit changing market needs.
CGC also created an Islamic Fund for contract financing and introduced a green technology financing scheme as part of its efforts on financing sustainable development.
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