Friday, June 5

S’wak Micro Credit Scheme opens for application

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KUCHING: The Sarawak Micro Credit Scheme (SKMS) is open for application, beginning today (April 1), announces Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan.

The scheme is designed to help small and medium enterprises (SMEs) in Sarawak.

According to Awang Tengah, the Sarawak government has approved an allocation of RM30 million for the implementation of the SKMS.

A video screengrab shows Awang Tangah speaking during the press conference.

“However, out of concern for the entrepreneurs who are affected by the current situation, the Chief Minister (Datuk Patinggi Abang Johari Tun Openg) has agreed to add RM20 million (to the allocation) for the SKMS, under the just-announced Sarawakku Sayang Special Package,” he said during a press conference yesterday, which was streamed live on social media.

Awang Tengah, who is also Minister of International Trade and Industry, Industrial Terminal and Entrepreneur Development, said the scheme would be divided into SKMS I and II.

“SKMS I provides loans or financing of RM1,000 to RM10,000, with no interest or profit rate to entrepreneurs from the B40 (low-income) group; while SKMS II provides loans or financing of RM5,000 to RM50,000, with interest or profit rates of four per cent based on the reduced monthly balance (more or less equivalent to two-per cent effective rate) to small-scale and micro-entrepreneurs.”

Additionally, the minister also said as a measure to ease the financial burden off the SMEs, the Sarawak government would allow the postponement of repayment for six months (April to October this year) for the SKMS borrowers.

“At the same time, the chief minister has also announced a six-month postponement in repayment of the Small and Medium Industries Loan Scheme (SPIKS) to benefit 144 SPIKS borrowers,” he added.

It is stated that the SKMS and SPIKS would be implemented by Sarawak Economic Development Corporation (SEDC) and Agrobank.

Application forms can be downloaded via these websites: www.mintred.sarawak.gov.my, or www.sedc.com.my.