Tag: Companies Commission of Malaysia (SSM)

Dana Pantas Opens 1 Aug, Offers RM20 Mln Zero-Profit Financing

SHAH ALAM, July 3 -- Applications for zero-profit financing under the DANA Pantas initiative, part of the Selangor Resilience Strengthening Package phase two, will open on Aug 1 with an allocation of RM20 million to support micro, small and medium enterprises (MSMEs) facing current economic challenges. Hijrah Selangor chief business officer Nilammasri Jaafar said financing of up to RM10,000 can be applied for via the DANA PLUS application, available on Google Play and the App Store, through QR code scanning or at any of the 12 Hijrah Selangor Business Centres statewide. The state government initiative offers zero-profit financing with a repayment period of up to three years and is expected to benefit 2,000 registered entrepreneurs. Nilammasri said DANA Pantas is open to all registered business sectors that have been operating for at least one year, while DANA Niaga Tani, which is dedicated to agriculture, fisheries, livestock and aquaculture, requires a minimum operating period of six months. “Entrepreneurs must also be registered with the Companies Commission of Malaysia (SSM), hold valid local authority licences, relevant permits, or be registered with professional bodies,” she told Bernama. Beyond new financing, Hijrah Selangor expects about 6,000 existing entrepreneurs with outstanding financing to benefit from a repayment rescheduling facility offered without penalty, subject to current terms and conditions. Nilammasri said the facility aims to ease financial commitments, reduce cash flow pressure and support business continuity amid challenging economic conditions. She acknowledged rising demand for financing among entrepreneurs, driven by higher operating costs, increased raw material prices and global supply chain disruptions. “There are also requests for rescheduling from entrepreneurs affected by economic pressures and cash flow constraints. Each application will be assessed based on individual circumstances and needs,” she said. Nilammasri said key challenges faced by entrepreneurs in Selangor include limited working capital, rising operating expenses, higher input costs and the need for fast access to financing to seize business opportunities. She added that some micro and small entrepreneurs also face difficulties securing funding through traditional financial channels, prompting the introduction of faster, more accessible and entrepreneur-friendly financing initiatives. Nilammasri said she hopes DANA Pantas, DANA Niaga Tani and the Selangor Entrepreneur Recovery Initiative (SERI) will help strengthen cash flow, enhance business resilience and expand access to financing. She added that the initiatives are also expected to spur business growth, encourage digital adoption among entrepreneurs and contribute to sustainable economic development in Selangor. -- BERNAMA 

SHAH ALAM, July 3 — Applications for zero-profit financing under the DANA Pantas initiative, part of the Selangor Resilience Strengthening Package phase two, will open on Aug 1 with an allocation of RM20 million to support micro, small and medium enterprises (MSMEs) facing current economic challenges. Hijrah Selangor chief business officer Nilammasri Jaafar said financing […]