Wednesday, October 3, 2012

How many benefited GTF??


How many do benefit this? What is gooooing on? GLCs doing green by planting treeeesssss... Of course what matter GLCssss is money... high investment low return in short to medium terms should be in dustbin.. So to look GREEEEENNN GLCs plant treessss, cheap way of investing to look GREEENNNN...

Thestar: Wednesday October 3, 2012

RM2.7b for green projects

KUALA LUMPUR: A total of RM2.7bil is still available for green technology projects under the Green Technology Financing Scheme (GTFS), according to Malaysia Green Technology Corp acting CEO Ahmad Zairin Ismail.
“Under phase one, a total of RM1.5bil has been allocated for GTFS and there is a balance of RM700mil. In the Budget 2013 announcement last week, an additional RM2bil had been made available for GTFS,” he said on the sidelines of the Green Technology Financing Bankers' Conference.
So far, RM805mil worth of projects benefiting some 65 companies have been approved by over 20 participating banks in the country, while over RM250mil worth of loans have been disbursed.
GTFS is a soft loan financing scheme established by the Government. Under the funding scheme, between RM10mil and RM50mil is allocated for a project, depending on the criteria. The Government will bear 2% of the total interest rate and also guarantee 60% of the financing amount. The scheme aims to improve the utilisation of green technology in the energy, water and waste management, building and transportation sectors.
Bank Negara deputy governor Datuk Muhammad Ibrahim said in order to create a more diverse and robust financing ecosystem for green ventures, the sukuk market and venture capital industry can play a more active role in supporting this sector.
“To promote long-term financing, the sukuk market presents an additional avenue to meet market demand. Sukuk which uses a principles-based approach on having real productive underlying assets is an ideal financing solution for green technology projects, which have large capital outlays and long gestation periods.
“Another is the promotion of a vibrant venture capital industry in Malaysia to complement the banking system, as it has the potential to facilitate the development of small and innovative businesses and the commercialisation of intellectual property,” Muhammad said in his speech earlier at the conference.
He said green businesses needed support as the industry might be technically strong but lacked the capabilities to develop comprehensive business plans and cash flow projections. .
Muhammad urged financial institutions to constantly develop expertise in support of green technology sector. “Green financing teams should have in-depth knowledge and capacity across the entire financing process flow, including development, promotions, sourcing of viable projects and holistic risk management.”
He noted that the ability to leverage on the opportunities in green technology financing would accelerate the growth of the green technology sector in Malaysia.
The two-day conference was jointly organised by Bank Negara and the Institute of Bankers Malaysia and supported by the Energy, Green Technology and Water Ministry, the Malaysian Green Technology Corp and the Sustainable Energy Development Authority Malaysia.
Meanwhile, the ministry secretary-general Datuk Loo Took Gee said although the take-up rate was low in the initial stage, the achievement of the GTFS had been commendable.
“As of end-September, a total of 209 applications had been issued with the green certificates, out of which 67 projects received loan offers from financial institutions amounting to RM815mil. The expected carbon dioxide reduction from these projects is estimated to be 1.2 million tonnes of carbon dioxide equivalents a year and an estimated 440 new green collar employment is expected to be created,” she said.