EXIM Bank expects loans to hit RM3.3b

EXPORT-IMPORT Bank Malaysia Bhd (EXIM Bank) is optimistic of expanding its loan distribution by 11 per cent to RM3.3 billion this year from last year's RM3 billion.

Managing director and chief executive officer Datuk Kamal Mohd Ali said the projected growth was largely on account of its two latest products - the overseas guarantee facility and the MalaysiaKitchen financing facility.

In addition to this, he said the increase in import-export activities in Malaysia has also brought about increases in demand for its other existing financing products.

“The availability of these two new products should significantly contribute to the loan growth. The target is achievable,” he told reporters after a placement agreement signing ceremony, witnessed by Deputy Finance Minister Datuk Ng Yen Yen, on a MalaysiaKitchen financing facility in Kuala Lumpur, yesterday.0

The Government, via EXIM Bank, has allocated RM180 million worth of loans for the MalaysiaKitchen programme, in an effort to encourage Malaysians to open up restaurants abroad and help promote Malaysia’s cuisine at the international level.

Kamal said the financing facility has received positive response. He said the bank has 15 loan applications for RM70 million and already approved five.

“We hope to disburse this loan to eligible applicants as soon as possible. By end of this year, we hope to disburse some RM35 million of this MalaysiaKitchen financing facility,” he added.

EXIM bank is the only bank given the mandate by the Government to provide the loans, which are offered to Malaysian entrepreneurs and restaurateurs who have at least one-year relevant working experience in operating local ones.

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