Home / Business / Budget 2022: Govt raises SJPP guarantee ceiling to RM10bil

Budget 2022: Govt raises SJPP guarantee ceiling to RM10bil

KUALA LUMPUR: The government will improve Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) by providing guarantee for rescheduled and restructured financing with an additional guarantee ceiling of RM10 billion including RM2 billion specifically for Bumiputera.

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said this initiative would assist companies to get access to new financing, which was difficult to get previously.

“To reduce the transaction cost, stamp duty exemption will be given on transaction documents involved in the rescheduling and restructuring of the financing,” he said when presenting Budget 2022 at the Dewan Rakyat today.

Tengku Zafrul said up to today, SJPP has provided business financing guarantees worth more than RM46 billion to over 44,000 companies.

He said the company has helped to facilitate the Small and Medium Enterprises (SMEs) procure financing during this difficult period. – Bernama

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