Funding Societies: Helping businesses to get back on their feet; 2022 Budget a boon for SMEs


KUALA LUMPUR, 29 Oct 2021: The budget tabled today will spur the economic development of the country and give a much-needed boost to Malaysia’s MSMEs, many of whom have been struggling to get back on their feet.

Representing the largest SME digital financing platform in the country and in Southeast Asia, Funding Societies Malaysia co-founder and CEO, Wong Kah Meng lauds the move of Ministry
of Finance YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz to allocate RM80mil through Malaysia Co-Investment Fund to support alternative financing including equity crowdfunding and peer-to-peer financing.

“The government’s decision to allocate more funds into alternative financing will further support the needs of MSMEs who are underserved by traditional financial institutions and open up opportunities for businesses who have been adversely impacted by the pandemic.”

On innovation and the allocation of RM45mil for Industry4WRD, Kah Meng said the quest to shape the future with the value proposition on Industry 4.0 is crucial for many MSMEs to adapt, as their businesses are now competing in the global marketplace during the pandemic.

“Besides ensuring the availability of various financing schemes and initiatives, we need to also have a strong technological and innovation infrastructure as well as local businesses that are ready to market globally through Industry 4.0 and the Digital Economy,” Kah Meng stated.

Last but not least, as an SME financing platform, Funding Societies has its own deferment scheme but is grateful that the government has also announced that scheduled payments for micro, small and medium enterprises can be deferred for up to six months until June 30, 2022.

"This move would definitely help keep MSMEs afloat longer and make it to the light at the end of the tunnel during this crucial transition period when more activities are opening up. Sustainability is paramount and this would allow all MSMEs a chance to recover and thrive.”.

Indonesia

Pemberi Dana
[email protected]
+62 877 7126 5290

Penerima Dana
[email protected]
+62 877 7873 6144

Unifam Tower, Jl. Panjang Raya
Blok A3 No.1, Kedoya Utara,
Kebon Jeruk, Jakarta Barat,
DKI Jakarta, 11520, Indonesia

Singapore

[email protected]
General Enquiries:
+65 6221 0958

Sales Enquiries:
+65 6011 7534

112 Robinson Road
Level 8
Singapore 068902

Malaysia

[email protected]
Primary contact
+603 9212 0208

Secondary contact
+603 2202 1013

Unit 15.01 & Unit 15.02,
Level 15, Mercu 3,
KL Eco City, Jalan Bangsar,
59200 Kuala Lumpur

Thailand

SME Loan
[email protected]
+66 93 139 9721

Investment
[email protected]
+66 62 197 8661

No. 188, Spring Tower,
10th Floor, Phayathai Road,
Thung Phaya Thai Sub-district,
Ratchathewi District,
Bangkok, 10400

Vietnam

[email protected]
(+84) 28 7109 7896

The Sentry P
16 Nguyen Dang Giai Street,
Thao Dien Ward, Thu Duc City,
Ho Chi Minh City, Vietnam

Dreamplex
174 Thai Ha Street,
Trung Liet Ward, Dong Da District,
Hanoi, Vietnam

lockSSL Secure Site

Get the investor app

Registered with Securities Commission Malaysia.
Modalku Ventures Sdn Bhd 201601019329 (1190266X)
© 2020 Modalku Ventures Sdn Bhd. All rights reserved. 

Funding Societies is a SME Digital Financing Platform registered with Securities Commission Malaysia. It does not fall under the jurisdiction of Bank Negara Malaysia. Therefore, financing products of Funding Societies should not be constructed as business loan, SME loan, micro loan, term loan or any other loans offered by banks in Malaysia and it is to be deemed as an investment note as defined in the Guidelines on Recognised Markets.

Disclaimer: All third party trademarks, product and company names are the property of their respective holders.