14 Sep MIDF Soft Loan Scheme for Automation & Modernization Enhancement
Malaysian Industrial Development Finance Bhd (MIDF), an agency of Ministry of International Trade and Industry (MITI) is offering Soft Loan Scheme for Automation and Modernisation (SLSAM), which would benefit the industry players.
SLSAM is to help reducing the cost of automation by offering a low fixed financing profit rate (as low as 4% p.n yearly rest), longer repayment tenure (up to 10 years for machinery/equipment including 3 years Grace Period) and higher of financing (up to 90% of the automation cost). SLSAM offers financing of machinery and equipment, industrial land and factory as well as working capital financing needs.
With the escalating costs for automation, SLSAM financing amount has increased to RM20 million (maximum) for every financing application.