TNB Vendor Financing Program

Our financing program that is offered solely to qualified Bumiputra contractors registered with TNB having secured contracts or purchase orders (PO) from TNB. This financing program also is solely targeted for Private Limited Company.

Financing Schemes

We offer to our clients with 70% margin of financing against individual PO issued by TNB.

The program will be a ‘Pre-Financing’ whereby ‘Post Financing’ is not feasible as the payment from TNB is normally paid between 7 – 14 days from work completion/claim made.

Purpose of Financing

The purpose of the financing is for working capital purposes only and should not be applied for the purposes of refinancing of existing facilities.

Features

The financing is offered for the Revolving facilities

  • Cash Line (Non checking)
  • Financing limit per contractor of RM500,000.00
  • Collaterals
    • Assignment of contract proceeds between Bank Islam and customer.
    • Irrevocable Letter of Notification from contractors to proceeds into their NCCA maintained with the Bank.
    • Joint Several Guarantee (JSG) by all directors.

Financing Tenure

Based on annual review basis.

Financing Rate

Minimum of 2.50% above BFR.

Eligibility

This financing scheme is offered to:

  • Sendirian Berhad companies.
  • Wholly owned by Bumiputra.
  • 70% workers are Bumiputra.
  • Hire a qualified Chargeman who is certified by Suruhanjaya Tenaga.
  • Registered with Lembaga Pembangunan Industry Pembinaan (“CIDB”).
  • Must be Persatuan Rakan Niaga Strategik Malaysia (PERNISMA) member.
  • Must fall within SME definition.
  • Must be Kontraktor Kerja Bumiputra (KKB) and Kontraktor Perkhidmatan Bumiputra (KPB).
  • Possession of:
    • Office and store
    • Relevant machinery and equipments

Basic Documents Required

1. Application Form


2. Statutory Documents

  • Form 24, 44 and 49
  • Certified of Incorporation Certificate
  • Certified Latest Memorandum & Articles of Association
  • Certified of Business Registration (Form B)

3. Financial Information

  • Profitable in the last one (1) year
  • Positive shareholders’ fund
  • Maximum gearing ratio of 5x

4. Certified Bank Statement for the last 6 months.

Fees & Charges

*Wakalah Fees

*Refer to other fees and charges

Product Disclosure Sheet (PDS)

Nil