KUCHING, Affin Group and Credit Guarantee Corporation Malaysia Bhd (CGC) have entered into a Memorandum of Understanding (MoU) to provide RM500 million in financing aimed at supporting micro, small and medium enterprises (MSMEs) as well as mid-tier companies (MTCs) across Malaysia.
The collaboration represents a major step forward in both organisations’ efforts to expand financing opportunities for businesses nationwide. By focusing on financial inclusion and sustainable growth, the partnership seeks to address funding gaps, empower businesses to scale and innovate, and strengthen their role in driving Malaysia’s economic development.
Through the MoU, Affin and CGC will introduce a broad suite of financing options, including guarantee-backed facilities for established companies, customised funding for start-ups and early-stage ventures, and working capital solutions to improve cash flow. The initiative also supports Malaysia’s transition towards a low-carbon economy by promoting sustainable financing practices.
Importantly, the programme aims to reach underserved and underbanked segments, ensuring that more entrepreneurs across different regions, including Sarawak and Sabah, gain access to much-needed financial resources.
Affin Group president and group chief executive officer (CEO) Datuk Wan Razly Abdullah said the partnership underlines Affin’s long-term commitment to financial inclusion and sustainable growth while contributing to national development.
“By leveraging our combined strengths, we are not only widening access to financing but also providing innovative solutions that help MSMEs and MTCs grow, compete, and thrive. This MoU reflects our commitment to empower the backbone of Malaysia’s economy and create lasting value for businesses, communities, and the nation,” he said.
Speaking at a press conference, Wan Razly noted that the RM500 million allocation serves as a starting point to meet the needs of the fast-growing MSME sector and could be increased if demand requires. Although the programme is structured as a five-year initiative, he expressed optimism that the funds could be fully disbursed within just three years.
Meanwhile, CGC president and group CEO Datuk Mohd Zamree Mohd Ishak highlighted the importance of extending financing access nationwide, with a strong focus on Sabah and Sarawak.
“While our mandate covers the whole country, signing this agreement in Kuching demonstrates the potential we see in Sarawak and Sabah. We are committed to expanding financing access and enhancing the resilience and sustainability of local enterprises,” he said.
The MoU was signed by Datuk Wan Razly, Affin Islamic Bank Bhd CEO Datuk Syed Mashafuddin Syed Badarudin, and Datuk Mohd Zamree, with Sarawak Financial Secretary Datuk Seri Dr Wan Lizozman Wan Omar witnessing the ceremony.
