KUALA LUMPUR, Malaysia (July 8): Green Packet Bhd has teamed up with Malaysian Industrial Development Finance Bhd (MIDF) to offer funding to small and medium-sized businesses (SMEs) wishing to go digital. Green Packet group managing director CC Puan and MIDF group managing director Datuk Charon Wardini Mokhzani signed a memorandum of understanding (MoU) today in a virtual ceremony conducted by Deputy Minister of International Trade and Industry Datuk Lim Ban Hong to formalize the relationship.
Under the terms of the agreement, MIDF will provide financial consulting services and financing facilities to Green Packet’s future and existing clients who want to accelerate their digital transformation.
“Green Packet’s dedication to helping SMEs with an enterprise suite of solutions that may help them make a smooth transition to contactless and cashless business settings is reflected in this relationship.”
“Our combined solutions with MIDF will create channels and chances for Malaysian local businesses to further innovate and digitize their businesses, deliver value to customers, and assure business continuity,” Puan said during the virtual press conference.
According to him, Green Packet as a tech solutions provider offers a variety of financial service solutions through its subsidiary Kiplepay Sdn Bhd, including a payment gateway service that authorizes cashless payments for online businesses, a White Label e-Wallet Solution for clients looking to create their own branded e-wallet without the hassle of starting from scratch, and e-Know Your Customer (e-KYC) solutions.
Green Packet also has a component called Urban Tech, which offers technology-enhanced property products as well as bespoke property technology solutions.
Similarly, Charon stated that MIDF is committed to assisting SMEs in growing their enterprises by providing a choice of soft financing options.
“One of these is our Soft Financing Scheme for Digital & Technology (SFDT), which helps SMEs adopt or expand their use of digital technology to improve their competitiveness and efficiency. We will be able to reach more SMEs and give them with the finance they need to succeed in the new digital world thanks to our MoU with Green Packet,” he said.
Financing options under the SFDT include up to 90% financing or up to RM1 million, a repayment period of up to five years, and interest rates as low as 3% per year on a yearly diminishing amount.
Green Packet fell half a sen, or 2%, to 24.5 sen at 12:18 p.m., with 402,300 shares traded. It is worth RM312.93 million on the stock exchange./n
