Bank Negara Malaysia (BNM) is establishing a RM1 billion High Tech Facility-National Investment Aspirations (HTF-HIA), as announced under Budget 2021, to provide additional assistance for high-tech and innovation-driven SMEs affected by the Covid-19 pandemic.
Eligible SMEs can obtain financing of up to RM1 million for working capital, up to RM5 million for capital expenditure financing, or a combination of working capital and capex of up to RM5 million for a tenure of up to seven years.
To support this effort BNM arranged a webinar with our financial community where representatives from 20 Financial Institutions attended. This was aimed at educating them on the different industries that were targeted under the HTF-NIA initiative, including the aerospace industry. The following is a summary of the meeting:
- NAICO presented on the 2030 blueprint and the key initiatives and Covid-19 impact. In addition they mentioned the importance of engaging in IR4.0 , the need to continue to develop talent
- MAIA presented an overview and status of our industry, the fact that we are high tech and highly skilled and the importance of ensuring we remain engaged in the global supply chain with emphasis on future recovery, as well as Malaysia’s opportunities in the sector moving forward
- National Aviation Consultative Committee took the opportunity to make 4 proposals:
-The need for the local financial community to be more knowledgeable and engaged in financing and the valuation methodology of GA aircraft
-To offer financing for hangar facilities
-To cater for training aids for the aerospace industry including simulators
-To cater for the need to finance drones and aerial urban mobility
- The TechnicalAssociation Malaysia Aviation Working Group presented on the regulatory structure and international financing aspects
- SME Aerospace presented on Covid-19 impact on our industry, current market demand and on sustainability and future growth
