» The company is at least 60% owned by Malaysian individually
» The company is registered under the relevant laws of Malaysia and classified as SME
» The company has been in operation for at least one year
» For the company which has been in operation for one year, the SME is required to have a minimum annual sales turnover of RM100,000 for the first year
» For a company which has been in operation for two years or more, the SME is required to have a minimum annual sales turnover of RM50,000 for the preceding two consecutive years.
Terms and Conditions
- SME must fullfilled the SME Eligibility criteria.
- SME have to adopt the digital solotions provided by Technology Solution Providers(TSPs) company.
> Completed SME Digitalisation Initiative Application Form and Declaration Form.
> 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. (if any) or evidence of sales turnover (if any).
> Company’s bank statement for the last two months.
> Company’s profile (if any).
> Invoice/billing and service agreement from authorized vendors listed by MDEC.
> Any other information and documents if the bank required.
- The SME must contact and appoint one or more panel of Service Providers to perform any of the digitalization services available (maximum of 3 panels).
- The SME must complete and submit the application form together with the required supporting documents to any of the Bank’s branches.
- Once the SME’s application is approved, the SME is responsible to 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.
- After proof of payment is provided, subject to the total invoice amount, the Bank will make a direct 50% payment of the total invoice amount or up to RM 5,000.00 to the Service Provider in one lump sum payment or in stages based on the Bank’s discretion.