What is Bumiputera Relief Financing (BRF)?
BRF is an initiative provided by the Ministry of Finance Malaysia (MOF) through Pelan Jana Semula Ekonomi (PENJANA) in providing support to Bumiputera entrepreneurs and businesses due to the pandemic of COVID-19 which resulted in the global economic downturn.
This initiative is to ensure the recovery and sustainability of the Bumiputera entrepreneurs to adopt to the new business model suitable to the norms of the present market and environment.
This initiative is to ensure the recovery and sustainability of the Bumiputera entrepreneurs to adopt to the new business model suitable to the norms of the present market and environment.
Financing Package
| Financing Amount | RM100,000 – RM1 Million |
| Financing Scope |
|
| Financing Tenure | Up to 5.5 years term financing (including 6 months moratorium on both principal & profit) |
| Profit Margin | 3.5% per annum on monthly rest basis |
| Availability Period | From the date of announcement until 30th November 2020 or the fund is fully exhausted (whichever comes first) |
Eligibility Requirement
- Malaysian SMEs adversely affected by COVID-19 (consistent with the guideline for New SME Definition issued by SME Corporation Malaysia under the following categories:
- Manufacturing – sales turnover not exceeding RM50 million OR full-time employees not exceeding 200 workers
- Services and other sectors – sales turnover not exceeding RM20 million OR full-time employees not exceeding 75 workers
- Business entities registered with Companies Commission of Malaysia (SSM), Inland Revenue Board (IRB), Employees Provident Fund (EPF), Social Security Organisation (SOCSO) or other equivalent bodies or local authorities. It EXCLUDES entities that are public-listed on Bursa Malaysia and subsidiaries of:
- Public Listed Companies (local or foreign)
- Multinational Corporations (MNC)/Large Firms
- Government Linked Companies (GLC)
- Minister of Finance (Incorporated) (MKDs)
- State Owned Enterprises
- Co-operatives
- Bumiputera owned companies (at least 70% effective Bumiputera shareholding in the company)
- Shari’ah compliant businesses
- Reasonable credit history
Financing Sector/Industry
| Covered Sectors | Non-covered Sectors |
|---|---|
| Retail & Distributive Trade | Agriculture & Mining |
| Manufacturing & Engineering | Housing & Property |
| System & Automation | Financial(funding and leasing of monetary and non-monetary, bitcoin, foreign exchange (forex), mortgage tax and remittance service) |
| Hospitality | Non-Shari’ah Compliance |
| Healthcare | |
| Business Enablers(software developers, logistics, warehouse & delivery) | |
| Creative(handicraft, gifts, painting, fine art (calligraphy), animation (infographic), interior design and fashion) Enablers |
Application Process
APPLICATION
Applicants can submit application with the required documents through online platform at PUNB Official Portal
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EVALUATION & APPROVAL
- PUNB Officer will assess and verify all the documents for approval process
- PUNB will inform/notify the approval status of applications through phone call, email or SMS to the applicant; signing and presentation of financing letter of offer
FUND DISBURSEMENT & IMPLEMENTATION
Once the documentation & fund disbursement conditions are fulfilled and approved, PUNB will channel the financing to the eligible entrepreneurs for the intended purposes
List of Required Documents
- Statutory documents of the company:
- Registration forms
- M&A, Form24,44,49 (Sdn Bhd)
- Form B&D (Sole Proprietary & Partnership)
- Professional Certificate/Qualification (Lawyer, Architect, Accountant – if any)
- Sdn Bhd – EPF, IRB & SOCSO Statement
- Other related statutory documents
- Latest 2 years Audited Account (Sdn Bhd)
- Latest Management Account 2019 (Sdn Bhd)
- Monthly sales report 2019 & 2020
- Latest 12 months bank statement
- Company profile
- The contract awarded+list/evidence of previous contracts (if any)
- Letter/any evidence of moratorium given by banks for existing financing
- Photocopy of Directors/Partner/Sole-proprietor/shareholders Identity Card
- Consent form to check on the credit record of applicant
- Submission of licenses from relevant local and federal authority and valid tenancy agreement
- Proof/evidence of business being affected by the economy downturn cause by pandemic of COVID-19 (if any) such as Reschedule & Restructuring letter of financing facility from other financiers, rental discount/waiver from landlord (if involved premise) and etc
Financing Benefits
- Automatic 6-months of moratorium will be given from the date of disbursement
- No collateral needed
- Fast approval within 3 weeks (upon submission of complete documents and information)
Charges Fee(to be deducted from financing):
- Processing
- Documentation
- Stamping
- 3 months security deposit
- Life and Premise Takaful