COVID–19 NEWS   Four samples of positive COVID cases in Parliament most likely Delta variant - Health DG | COVID: Close contacts contribute highest daily cases in Sabah | MOH recommends to postpone all meetings in Parliament for two weeks - Health DG | Two new COVID-19 clusters surface in Sarawak | Two new COVID-19 clusters surface in Sarawak | 

JanaNiaga financing allocation expected to reach RM1.2 bln - Tengku Zafrul 

22/07/2021 04:23 PM

KUALA LUMPUR, July 22  -- The allocation for the National Supply Chain Finance Platform, JanaNiaga, is expected to reach RM1.2 billion, with the additional allocation from financial institutions which will participate in phases.

Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz said to ensure the financing assistance could be extended to the SMEs immediately, an allocation of RM300 million has been provided by Export-Import Bank of Malaysia Bhd (EXIM Bank) to kick-start JanaNiaga.

He said JanaNiaga, led by EXIM Bank with the participation of several financial institutions in Malaysia, would benefit the SMEs that are experiencing cash flow problems following a longer invoice payment period, besides facilitating them in obtaining loans.

“The JanaNiaga platform is based on invoice payment from suppliers of GLCs (government-linked companies) through the digital portal.

"With the support of GLCs, SME suppliers will enjoy financing rate as low as 3.5 per cent annually with 100 per cent financing margin, far lower than normal financing rate," he said in his speech at the launch of the JanaNiaga platfrom today.

Tengku Zafrul said at the initial stage, JanaNiaga will be implemented together with Petronas and Telekom Malaysia Bhd.

Based on the average invoice of 90 days, the allocation of RM1.2 billion would contribute some RM4.8 billion per year to the cash liquidity of the SMEs, he said.

Tengku Zafrul said the financing applications, which are also required to be made online, would enable the applications to be approved within 24 hours.

JanaNiaga platform announced in Budget 2021 is the financing assistance initiative to help strengthen the financial position of the SMEs which supplies to the government or GLCs, he said.

"This platform will support the economic recovery for the long term, in line with the government's strategy in prioritising automation and digitalisation, as well as using new technologies to expedite the transformation to a high-income economy," he added.




Bernama is the trusted source of reliable real-time comprehensive and accurate news for both the public and media practitioners. Our news is published at ; BERNAMA TV on: Astro Channel 502, unifi TV Channel 631, MYTV Channel 121 IFLIX; and Bernama Radio broadcasting locally on FM93.9 in Klang Valley, Johor (FM107.5), Kota Kinabalu (FM107.9) and Kuching (FM100.9).

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter :, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2021 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy