A stamp duty exemption is granted on the loan or financing agreement document pertaining to the aforementioned financing facilities or loans that are performed between a financial institution (FI) and a small business (SME). The Stamp Duty (Exemption) Order 2020 was gazetted on May 14, 2020. The applicable instruments executed in response to a letter of offer made by the FI between February 27, 2020, and December 31, 2020, will be free from taxation (see Special Tax Alert No. 13/2020).
For the most updated information as per today please visit here and fill up pop up form to book a free phone call .
SME TECHNOLOGY TRANSFORMATION FUND (STTF):
Objective:
To provide financial assistance to Small and Medium Enterprises (SMEs) to adopt digitalisation and/or automation in their business operations in achieving higher productivity, process efficiency, efficient cost management and greater market penetration.
Purpose
The purpose of the financing is for the following purchases:
Equipment and/or machinery;
Computer hardware and software;
IT solutions and services;
Technology support services; and
Other intangible assets to enhance productivity and efficiency.
Eligibility:
This is critical to mention here you are welcome to read eligibility details as following though it's highly recommend to contact SMI FUNDING's consultant, because it happens often, it seems to client not eligible and when talk to SMI FUNDING's consultant, it appears there is a way out. Please visit here to view loan options and fill up the pop up form to book a free call with SMI FUNDING's consultant.
All MSMEs as defined by National Entrepreneur and SME Development Council (NESDC) that meet the following eligibility criteria:
Registered with Suruhanjaya Syarikat Malaysia (SSM), or authorities/district offices (for Sabah and Sarawak), or statutory bodies for professional service providers.
Shareholding by Public Listed Companies or Government Linked Companies (if any) shall not exceed 20%.
At least 51% of shares held by Malaysian residing in Malaysia;
At least 2 years in operations;
Financially solvent; and
No legal action against the Company or any of its director/ shareholder/ partner/ owner/ guarantor under the laws of Malaysia.
Financing Facility:
Commodity Murabahah Term Financing-i (CMTF-i)
Ijarah Thummal Bai’ (ITB) Financing
Financing limit:
From RM100,000 to RM3.0 million
Profit Rate:
4.0% p.a (inclusive of guarantee fee)
Margin of Financing:
Up to 80% of the acquisition cost
Tenure:
Up to 10 years
Collateral:
Up to 80% guarantee cover from Credit Guarantee Corporation (CGC).
Personal guarantees/ joint and several guarantees.
Asset to be financed.
Takaful:
Takaful/insurance coverage is mandatory if the asset is given as security for the financing (if applicable). You have the option to select the service offered by our panel Takaful operators or non-panel Takaful operators.
Economic Sector:
Services
Manufacturing
This is important to mention applicants must apply for this funding first time with perfect documentation & according to regulations, this is why it's highly recommended to contact SMI FUNDING's consultant, please click here to whatsApp or visit here to fill up pop up form to book a call from SMI FUNDING for further information
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