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New Entrepreneurs Fund 2 (NEF 2)
The New Entrepreneurs Fund 2(NEF 2) was set up by the Government in April 2001 as an additional allocation of RM250 million to the existing New Entrepreneurs Fund to promote new productive capacity as well as utilisation of existing capacity among Bumiputera entrepreneurs. In March 2003, the allocation for the fund was increased from RM500 million to RM900 million.
ELIGIBILITY
I. 100% Bumiputera-owned companies with shareholders' funds not exceeding RM10.0 million; or
II. Small and medium-sized Bumiputera industries participating under the vendor development program of the Ministry of Entrepreneur Development or Ministry of Finance with at least 70% Bumiputera equity and management control
ELIGIBLE SECTORS
Manufacturing
Agriculture
Services
Commerce/Trading
Tourism
Construction
Engineering
Transportation
Furniture
Printing
Film
Quarrying
LOAN AMOUNT
Up to RM5 million
ELIGIBLE ITEMS TO BE FINANCED
Fixed assets and/or working capital.
PERCENTAGE FINANCING
Up to 85% of the cost of eligible items.
LOAN PERIOD
Maximum of 8 years, including grace period at 5.0% p.a. with no commitment fee.
FOR FURTHER INFORMATION, PLEASE CONTACT:
HEAD OFFICE
Bangunan MIDF195A, Jalan Tun Razak50400 Kuala Lumpur
P.O. Box 12110
50939 Kuala Lumpur
Tel: 03-2161 0066, 2161 1166
Fax: 03-2161 5973, 2161 3906, 2161 3908
E-mail : inquiry@midf.com.my
BANK NEGARA MALAYSIA
New Entrepreneurs Fund 2 (Conventional and Islamic)
Amount RM2,000 million
Date established 15 Jul 2001
Main Objective
To help stimulate the growth of small and medium-sized Bumiputera enterprises. The fund is a continuation of the New Entrepreneurs Fund which was terminated on 15 July 2001
Maximum financing rate 5.0% p.a.
Maximum tenure 8 years
Minimum funding None
Maximum funding RM5 million
Participating Financial Institutions
All commercial banks
All finance companies
All islamic banks
Bank Pembangunan dan Infrastruktur Malaysia Berhad
Bank Industri dan Teknologi Malaysia Berhad
Malaysian Industrial Development Finance Berhad
Eligibility
Shareholders' funds not exceeding RM10 million;
Wholly-owned Bumiputera institutions incorporated under the Companies Act 1965, the Co-operative Societies Act 1993, the Societies Act 1966, Bumiputera residing in Malaysia and Bumiputera entrepreneurs registered under the Registrar of Business or any other authoritative bodies.
Or
The small and medium-sized Bumiputera enterprises participating under the vendor development programmes of the Ministry of Entrepreneur Development, or Ministry of Finance, with at least 70% Bumiputera equity and management control.
Purpose of financing
Expansion in productive capacity;
Working capital;
Or
Both
the above Financing should not be used for:•
Purchase of shares
Refinancing of existing credit facilities.
Eligible sectors
All economic sectors
Application procedure
Applications should be made through any participating financial institutions. Approvals will be subject to the normal vetting procedures and security requirements of the participating financial institutions.
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