Malaysia's Exim Bank eyes 40% of RM1B loan applications from SMEs

 Export-Import Bank of Malaysia expects 40 per cent of its targeted loan applications worth RM1 billion for this year to come from the small medium entrepreneurs.

SMEs usually make up 80 per cent of its total borrowers.

Its managing director/chief executive officer, Adissadikin Ali, said the same structure would prevail for next year, with the SMEs to make up 80 per cent of the total borrowers.

"The value of their loan applications will be about 40 per cent of the expected value of RM1.8 billion for loan applications for next year," he said.

Adissadikin added that the majority of the SMEs are involved in the manufacturing sector in Malaysia which export to the traditional markets.

Adissadikin said, over the last five years, Exim Bank had provided RM3 billion in financing to companies, of which 80 per cent of them were small and medium enterprises.

He said due to limitations of the Malaysian market in terms of consumption volume, they should look for opportunities overseas to expand their reach.

The full story is available at Bernama.