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SME Village Economic Financing Scheme (VEFS)

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

All SMEs that meet the following eligibility criteria:

  • Registered with the statutory bodies for professional service providers.
  • Shareholding by Public Listed Companies or Government Linked Companies (if any) shall not exceed 20%.
  • 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. 

Financing Concept

  • Commodity Murabahah Term Financing-i (CMTF-i)
  • Ijarah Thummal Bai’ Term Financing (ITB)

Financing Limit

  • Minimum : $1,000,000
  • Maximum : $300,000,000

Profit Rate

  • Minimum : $1,000,000
  • Maximum : $300,000,000