MALAYAN Banking Bhd (Maybank) aims to facilitate RM5 billion worth of trade financing to small and medium enterprises (SMEs) in the next three years through its newly-launched myTrade2cash service.
myTrade2cash is an online trade financing service offered through Maybank’s collaboration with Dagang NeXchange Bhd (DNeX).
“The business going forward will be e-commerce. We would like to be a full-fledged trade financing facilitator,” Maybank group head of global banking Amirul Feisal said at a briefing, here, yesterday.
“We have about 25 per cent market share and we are
looking at 10 to 15 per cent growth for trade financing volume,” he said.
DNeX, which manages the
National Single Window, is the
portal through which SME
exports are marketed to customers abroad, while Maybank has the scope and expertise to facilitate exports through its trade financing facilities through its presence in 10 Asean countries.
myTrade2cash, the first of its kind in Asean and the second
in the world after Taiwan,
offers SMEs financing of between RM500,000 and RM3 million.
Meanwhile, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the country’s total trade is expected to expand 5.2 per cent and exports to grow 2.6 per cent next year.
“Malaysia enjoys a positive trade balance this year, which marks the 16th consecutive year of trade surplus,” he added.