Objective

To assist Bumiputera contractors to have access to fund their construction projects and to encourage their participation in the development sector of Sarawak

Scope

As working capital for contract works in the construction industry

Target Group

Bumiputera Sarawak contractor (Sarawak Ordinance), registered with Unit Pendaftaran Kontraktor & Juruperunding (UPKJ) class F, Ex or E in construction works

Eligibility

1. Having a Letter of Offer from the Ministry/Government Department/Local Authority/Government Agency concerned
2. Short-term contracts up to six (6) months
3. The contractor did not have any adverse record in the CORRIS system (State  Contractor & Consultant Registration System)

Contract Value Allowed

Contract work valued from RM20,000.00 to RM350,000.00.

Loan Limit

Maximum amount of RM200,000.00 or 80% of the contract sum, whichever is lower

Interest Rate

4%

Period of Loan

Up to one year

Collateral

Through the signing of a “Deed of Assignment (DOA)” with the project owner (Ministry/Government Department/Local Authority/Government Agency) as a guarantee to the loan.

Method of Repayment

The Ministry/ Government Department/ Local Authority/ Government Agency concerned will disburse the payment to SEDC for the deduction of the loan and balance to   be paid to the contractor.

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