SME Technology Transformation Fund (STTF) is part of the Government’s economic stimulus package 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.
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.
All SMEs 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.
- Up to 80% of the acquisition cost.
- Financing amount ranging from RM100,000 to RM3.0 million
- Up to 10 years
- 4.0% p.a (inclusive of guarantee fee)
- Asset financed
- Guarantee scheme from Credit Guarantee Corporation (CGC) or Syarikat Jaminan Pembiayaan Perniagaan (SJPP).
- Photocopy of identity card of all directors/ shareholders/ partners/ owner/ guarantors.
- Photocopy of valid business registration.
- Certified secretarial documents (for example Form 24, Form 49, M&A, whichever is applicable).
- Latest audited for the financial year end is not more than or equivalent to 18 months from the date of financing application.
- Certified true copy of latest 6 months bank’s statements.
- Business plan that highlight the adoption of digitalisation and automation. This also include the operational efficiency, increase productivity and cost effectiveness.
- Any other documents required by the Bank pertaining to the financing.
Any further enquiries, please contact our Customer Service Centre at 03-2603 7700