KUALA LUMPUR: Pelaburan Mara Berhad (PMB), through its subsidiary PMB Tijari Berhad, continues its commitment as a Shariah-compliant financier by providing funding for small and medium enterprises (SMEs) to expand into international markets.

The sectors PMB Tijari focuses on include high-demand and challenging industries such as:

• Aerospace

• Automotive

• Rail

• Renewable energy

• Medical technology

• Biotechnology

• Halal industry

PMB Tijari’s Chief Executive Officer, Wan Sazriz Wan Zaid, said the company is offering a US$10 million fund starting January 2020, denominated in US dollars.

He explained that this fund is expected to support and benefit around 30 to 40 local entrepreneurs in their global ventures.

“Expanding a local company overseas isn’t easy—they need to prove their capabilities on the global stage and require the support of financial institutions.”

“Through this US dollar fund, each company can receive up to US$1 million in contract financing for overseas ventures, with loan terms ranging from six months to five years."

“This initiative also enables us to export local expertise to the global market,” he said recently.

Wan Sazriz added that PMB Tijari has already provided RM200 million in financing to 100 entrepreneurs.

“We aim to increase the financing amount to RM300 million, involving an additional 80 to 100 entrepreneurs by the end of the year,” he said.

At the same time, PMB Tijari also announced the approval of RM8 million in Tawarruq financing to three Bumiputera companies:

• Usaha Teknikal Sdn Bhd

• WOG Global Resources Sdn Bhd

• Enviro Exceltech Sdn Bhd

Syed Sadiq Obaidi Albar, Managing Director of Usaha Teknikal, shared that his company had faced tough times before successfully growing into a leading provider of port equipment systems and engineering services.

Meanwhile, Zamzam Tuah Ahmad Ramly, Managing Director of Enviro Exceltech, said PMB Tijari’s financial support has boosted client confidence, especially in the new sectors his company is exploring.