During the speech of Tenth Malaysia Plan (10MP), Prime Minister Datuk Seri Mohd Najib Tun Razak announced that an additional of RM3 billion will be topped-up to the Working Capital Guarantee Scheme (WCGS) under the 10MP.
RM5 billion of WCGS, which was introduced in March 2009 in the 2nd economic stimulus, was fully utilized by the end of the year, despite of being topped-up to RM7 billion.
Under the fund, the government will guarantee up to 80% of the loan while SMEs only need to bear 0.5% for the CGC guarantee fees.
(Source: Malaysia SME newspaper, July 3- July 16, 2010)
