press release
Skim CAKNA by Maybank Islamic
3 Mar 2021 | Wednesday source: Maybank
A funding facility from Maybank Islamic Berhad for Small and Medium-sized Enterprises (SMEs) that have been awarded with Supply of Goods and Services contracts by the Government of Malaysia. The participating Ministries are Ministry of Health (MOH), Ministry of Education (MOE), Ministry of Higher Education (MOHE) and Ministry of Communication & Multimedia (MCMM).
Supply and Services Procurement for the year 2021
- SKIM CAKNA is open to all companies including SMEs (“Companies”) that have been awarded and/ or will be awarded with supply and services contracts by the Government for the year 2021.
Quick Funding
- The scheme serves as an alternative source of funding to assist the cash flow position of the Companies as well as for their working capital by receiving an early payment of the receivables without waiting for payment from the Government.
Non-Recourse*
- Bank makes early payment to the Companies based on the Government’s creditworthiness subject to the assignment of contract proceeds. *Non-Recourse means at all times the Bank will receive payment from Government except for situations stipulated in the agreement.
Competitive Pricing
- Companies get to enjoy competitive pricing based on the credit standing of the Government as Principal with no requirement for credit assessment on the Companies.
Up to 100% invoice value
- The funding margin will be up to 100% of the invoice value, subject to prevailing charges by the Bank. In order to get this funding facility, Companies must comply with the terms and conditions stipulated in the Surat Setuju Terima (SST) and/or the contract(s) by the Government.
Click here to view Skim CAKNA infographic
Click here to view Frequently Asked Questions (FAQ) for Skim CAKNA
For further information & enquiries, please contact us at: cakna@maybank.com or 1300 88 6688
