- Soft Financing Scheme for Automation and Modernisation (SFSAM) is a financial assistance scheme developed specifically to encourage manufacturing companies to modernise and automate their manufacturing processes by upgrading their production capability and capacity.
- This scheme is also expected to assist manufacturing companies in minimizing their dependence on labour intensive activities and foreign labour while diversifying into higher value-added activities.
- Eligible companies will be able to obtain financing with a minimum amount of RM50,000 up to a maximum of RM20,000,000.
- Fixed financing rate of as low as 3% per annum on yearly rest (currently 4% or 5% per annum) for a period of 12 months effective 1st April 2021 until 31st March 2022
Who is eligible for SFSAM?
- Companies incorporated under the Companies Act 1965 and the Companies Act 2016; and
- At least 51% equity held by Malaysians; and
- Possess a valid business license; and/or
- In operation for at least 2 years.
How do I apply for SFSAM?
Steps to apply:
- Contact our Business Advisory Team at 1 300 88 6433 (MIDF) during official office hours (Mon – Fri: 9am to 5pm); or
- Contact our respective Regional Offices