Business

Published: Friday July 6, 2012 MYT 1:34:00 PM
Updated: Friday July 6, 2012 MYT 2:34:23 PM

Teraju, SME Bank launch RM500m loan facility

By John Loh


PETALING JAYA: Teraju (Unit Peneraju Agenda Bumiputera) and SME Bank have launched a RM500mil Islamic loan facility called TeraS Fund targeted at high performing bumiputera companies under the TeraS programme.

Minister in the Prime Minister's Department Tan Sri Nor Mohamed Yakcop said on Friday that Teraju would contribute RM5mil as risk capital to the fund, with the balance to come from SME Bank.

In a separate development, he announced that part of the RM2bil facilitation fund for infrastructure projects introduced by Teraju and UKAS (Public Private Partnership Unit of the Prime Minister's Department) last year would be made more flexible.

The threshold for companies applying for project finance would be lowered to RM5mil from RM20mil for a RM600mil portion of the total fund.

He said the country's five economic corridors would be allocated RM100mil each and the final RM100mil for non-corridor areas.

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