2 August 2022

• Aimed at providing factoring facilities and comprehensive financial solutions, with a special focus on SMEs and start-up companies.
• Applications for financing are open until the end of 2022.

Kuala Lumpur, 2 August 2022 – Planworth Global Factoring, a leading and the largest non-bank financial institution specialising in factoring and supply chain finance, has allocated a total of RM500 million to provide factoring facilities and financing solutions to micro, small and medium enterprises (MSMEs). This fund aims to empower MSMEs and start-up companies involved in Business-to-Business (B2B) and Business-to-Government (B2G) transactions by providing secure and accessible access to working capital financing.

Currently, approximately 97.4% of all businesses in Malaysia comprise MSMEs, making them a key indicator of the nation’s economic health. Recognising the long-term impact of the Covid-19 Movement Control Order (MCO) on many businesses, experts have widely advocated for greater financial support to strengthen MSME recovery efforts in the post-pandemic period — a goal that Planworth actively supports through this financing initiative.

Commenting on the initiative, Dato’ Andy Kuek, Chief Executive Officer of Planworth Global Factoring, said,
“Planworth’s vision is to empower local MSMEs to grow and contribute to our national economy through our cost-effective and customisable financial solutions. To date, we have disbursed more than RM1 billion to local MSMEs. Building on the success stories we have witnessed firsthand, we are now allocating additional funds to support more MSMEs through simplified documentation requirements, MSME-friendly credit policies, fast approval processes, and rapid fund disbursement without the need for collateral.”

With the RM500 million allocation, Planworth will further expand its comprehensive local financing solutions by offering Letters of Support, Working Capital Financing, Purchase Order (PO) Financing, and Post-Financing / Invoice Financing to meet the growth needs of MSMEs at every stage, as well as to support end-to-end short-term business financing requirements. By providing secure and faster access to cash flow, Planworth enables businesses to address their immediate financial needs and finance their day-to-day operations efficiently.

This initiative forms part of Planworth’s broader mission to champion the development of the local business and financial landscape, positioning itself as the preferred factoring and financing institution for MSMEs and start-up companies. Planworth is a reputable financial institution registered with the Ministry of Finance Malaysia (MOF) and ePerolehan, providing financing support to contractors, vendors, and suppliers serving the Government, Government-Linked Companies (GLCs), and the private sector. Planworth’s factoring and invoice financing facilities are exempted from stamp duty from 1 January 2022 to 31 December 2023, following approval from the Ministry of Finance Malaysia.

The fund remains open for applications until the end of 2022, subject to availability.
For more information or to apply, please visit:
? https://planworthfinance.com/apply-now/

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