Is your company eligible to apply?
1. SME must be at least 60% owned by Malaysians.
2. SME must be registered under the relevant laws of Malaysia.
3. SME must be already in operation for at least one (1) year and higher.
- One (1) year: SME is required to have a minimum annual sales turnover of RM100,000
- Two (2) years or more: SME is required to have a minimum annual sales turnover of RM50,000 (preceding two (2) consecutive years)
What are the required documents?
- Completed SME Digitalisation Initiative Application Form
https://www.smebank.com.my/images/2020/Feb2020/Application-Form_final.pdf - Copy of Identity Card or Passport of Director (s) / Partner (s) / Proprietor(s), whichever is applicable.
- Copy of business registration licenses (CCM, Form A/B, Form 24 & 49 and M&A or any similar forms under the Companies Act 2016).
- Audited financial statement for the last financial year and the latest management account or evidence of sales turnover (if any).
- Company’s bank statement for the last two (2) months.
- Company’s profile (if any).
- Invoice/billing and service agreement from authorized vendor(s) listed by MDEC.
How to apply?
1. Your company must contact and appoint one or more Service Provider panels to perform any of the digitisation services available (MAXIMUM 3 PANELS).
2. Complete and submit the application form - together with the required supporting documents - to any Bank’s branches.
3. Once application is approved, pay the difference of the total invoice after deducting the subsidized amount granted from the Initiative and to provide proof of payment to any of the Bank’s branches.
4. After showing proof of payment, subject to the total invoice amount, the Bank will make a direct 50% payment of the total invoice amount or up to RM5,000 to the Service Provider in one lump sum payment or in stages based on the Bank’s discretion.
