KELANA JAYA, July 1 (Bernama) -- Credit Guarantee Corporation Malaysia Berhad (CGC) is pleased to announce the appointment of Dato’ Mohammed Hussein as its new Chairman with effect from 1 July 2020, succeeding Dato’ Agil Natt who has stepped down as Chairman on 30 June 2020. Dato’ Agil Natt was appointed CGC Chairman on 18 June 2013 and was instrumental in the growth and development of the unserved and underserved Malaysian micro, small and medium enterprises. On 8 November 2019, Dato’ Agil Natt was appointed as the Chairman/Independent Non-Executive Director of Affin Bank Berhad.
 
Dato’ Mohammed Hussein holds a Bachelor of Commerce degree, majoring in Accounting from the University of Newcastle, New South Wales, Australia. He is an alumnus of the Advanced Management Program, Harvard Business School, Boston, USA. Dato’ Mohammed Hussein is a fellow of the Asian Institute of Chartered Banker.
 
Presently, he is the Independent Non-Executive Chairman of Gamuda Berhad, Hap Seng Plantations Holdings Berhad and Syarikat Takaful Malaysia Keluarga Berhad. He is also Chairman of Corporate Debt Restructuring Committee (CDRC) which is sponsored by Bank Negara Malaysia to facilitate the resolution and restructuring of major corporate debts.
 
Dato’ Mohammed Hussein was with Malayan Banking Berhad (Maybank) Group for 31 years, during which time he held various senior management positions including Head of Corporate Banking, Head of Commercial Banking, Head of Malaysian Operations, Managing Director of Aseambankers Malaysia Berhad (currently known as Maybank Investment Bank Berhad) and Executive Director (Business Group). He was the Deputy President/Executive Director/Chief Financial Officer of the Maybank Group prior to his retirement on 30 January 2008.
 
About CGC
 
Credit Guarantee Corporation Malaysia Berhad (CGC) was established on 5 July 1972. It is 78.65% owned by Bank Negara Malaysia and 21.35% by commercial banks and a credit company in Malaysia. CGC aims to assist Micro, Small and Medium-Sized Enterprises (MSMEs) with inadequate or without collateral and track record to obtain credit facilities from financial institutions by providing guarantee cover on such facilities. CGC has availed over 470,000 guarantees and financing to MSMEs valued over RM75 billion since its establishment.
 
On 9 February 2018, CGC introduced imSME, Malaysia’s first SME online financing/loan referral platform. imSME serves as an alternative channel for MSMEs to source for financing products. From its inception to 31 May 2020, imSME has received more than 1.7 million visitors with more than 29,000 registered MSMEs under the portal.
 
CGC is a financially sustainable institution, providing a wide range of guarantees and financing products, which includes the RM300 million Bumiputera Entrepreneur Project Fund (TPUB-i). This contract financing scheme is funded by Bank Negara Malaysia (BNM) and provides working capital financing to Bumiputera entrepreneurs who have been awarded contracts or projects by the Government or its agencies.

SOURCE: Credit Guarantee Corporation Malaysia Berhad (CGC)
 
FOR MORE INFORMATION, PLEASE CONTACT:
Name: Mohana Arumugam
Vice President
Corporate Communications
Tel: +6017-237-6366
Email: mohana.arumugam@cgc.com.my
 
Name: Patricia Liew
Manager, PR & Media
Tel: +6012-286-9085
Email: patricia.liew@cgc.com.my
 
--BERNAMA