KUALA LUMPUR, Oct 6 – Efforts to bring local companies abroad require the cooperation of various parties, including financial institutions. At the same time, these companies must also prove their ability to compete on the global stage.

Recognizing this reality, Pelaburan MARA Berhad, through its subsidiary PMB Tijari Berhad, a Shariah-compliant financier, has taken the initiative to provide funding that can be tapped by small and medium enterprises (SMEs) to help them grow internationally.

A fund in US dollars amounting to USD10 million (RM41.91 million) will be made available starting January 2020, benefitting around 30 to 40 local entrepreneurs.

The CEO of PMB Tijari, Wan Sazriz Wan Zaid, stated that each company could receive up to USD1 million (RM4.19 million) in the form of overseas contract financing, with loan periods ranging from six months to five years.

“This is in line with our efforts to export local expertise to the international level, particularly in challenging fields such as aerospace, automotive, rail, renewable energy, transformative technologies, biotechnology, and the halal industry,” he said recently.

So far, PMB Tijari has provided RM200 million in financing involving 100 entrepreneurs and aims to increase the total financing to RM300 million, targeting 80 to 100 more entrepreneurs by the end of the year.

He acknowledged that SMEs face difficulties in expanding overseas due to financial constraints, which is unfortunate given their specialized expertise that is in demand regionally.

This move by PMB is supported by Syed Sadiq Obaidi Albar, Managing Director of Usaha Teknikal Sdn. Bhd., who once faced similar challenges before successfully leading his company, specializing in port equipment systems and engineering services, to significant growth.

“This financing not only reflects PMB Tijari’s confidence in our capabilities but also allows us to grow through involvement in various projects,” said Syed Sadiq, whose company has been operating in Brunei for the past two years.

He added that it would also help strengthen their regional position, with Indonesia and Vietnam targeted within the next three years.

Meanwhile, Zamzam Tuah Ahmad Ramly, Managing Director of Enviro Exceltech Sdn. Bhd., noted that the new sector his company has ventured into will instill greater confidence among clients with the backing of PMB Tijari.

“Looking ahead, we are confident that we can grow within the halal food industry in ASEAN after securing a project as the distributor of automatic sandwich preparation machines imported from Italy,” he said.

“Besides tapping into the market in Indonesia, we are also promoting our services to Emirates airline. With this support, we are confident in our ability to go far.”

Elsewhere, Muhammad Anas Marjunit, Managing Director of WOG Global Resources Sdn. Bhd., recalled the challenges he faced as a Bumiputera subcontractor from 1994 to 2000, especially in securing financial assistance.

“We later shifted to become a main contractor, but it required significant investment in terms of staffing and equipment. We had to go through many procedures and bureaucratic hurdles before we could solidify our company’s position in the oil & gas, construction, and medical equipment industries,” he said.