Kuching: A Batu Kawa-based company involved in the distribution of pet food and pet supplies has become the first business in Sarawak to receive financing under the Special Financing Programme for Chinese-Owned Micro Enterprises (BERKAT), securing RM30,000 to expand its operations and explore export opportunities.
Bandar Kuching MP Dr Kelvin Yii Lee Wuen yesterday handed over the approval letter to Marketing Manager of International Marketing Management Sdn Bhd, Alvin. Also presented are officers from SME Corporation Sarawak.
Yii, who is also Political Secretary to the Minister of Entrepreneur Development and Cooperatives, said the financing would help strengthen the company’s marketing efforts and support its plans to expand into regional markets.
“The BERKAT financing scheme mainly provides short-term working capital support for small and medium enterprises (SMEs) and is known for its simplified application procedures and quick approval process.
“Under the scheme, businesses can receive financing of up to RM30,000 at an interest rate of 3% per year, without the need for collateral, with a repayment period of up to 24 months,” he said.
He added that Chinese-owned businesses interested in applying for the BERKAT scheme may submit their applications through the CapBay website.
“In addition to BERKAT, the Ministry of Entrepreneur Development and Cooperatives has also introduced two other financing programmes for Chinese entrepreneurs – the SUCCESS Loan Scheme through SME Bank Malaysia and the BR Prosper-i Financing Scheme through Bank Rakyat.
“The programmes are available at more than 160 branches nationwide, with applications processed on a first-come, first-served basis until the allocated funds are fully utilised,” he said.
International Marketing Management Sdn Bhd, which has been operating for more than three years, currently supplies and distributes pet food and related products to local pet shops.
Alvin said he learned about the BERKAT financing scheme earlier this year and subsequently submitted an online application through the CapBay platform.
He expressed surprise that the financing application was approved in about two weeks.
“Financing applications usually take much longer to process, so the efficiency of the BERKAT scheme was quite unexpected,” he said.
With the funds secured, Alvin said the company plans to enhance its marketing strategies and accelerate efforts to expand into overseas markets, including exporting pet-related products to neighbouring countries.
