Bank Negara Malaysia appoints new Committee Members for Small Debt Resolution Committee
Source by: Bank Negara Malaysia
Bank Negara Malaysia today announced the appointment of new members of the Small Debt Resolution Committee effective from 1 March 2015. Datuk Wan Azhar Wan Ahmad has been appointed as the Chairman to succeed Encik Md. Yusof Hussin who has retired after serving the Committee for more than 10 years. The Committee members have vast experience in the areas of business, entrepreneur development, banking and finance. The members are:
1. Datuk Wan Azhar Wan Ahmad (Chairman) - Former President/Chief Executive Officer, Credit Guarantee Corporation Malaysia Berhad
2. Dato’ Mohd Hanif Sher Mohamed - Chairman, Agensi Kaunseling dan Pengurusan Kredit
3. Datuk David Chua Kok Tee - Executive Advisor, Associated Chinese Chambers of Commerce and Industry of Malaysia
4. Datuk Dzulkifli Fadzilah - Chief Executive Officer, Perbadanan Usahawan Nasional Berhad
5. Tuan Haji Ariffin Hew - Former Director, Bank Pembangunan Malaysia Berhad
6. Encik Jeffrey Chew - Former Chief Executive Officer, OCBC Bank (M) Berhad
7. Puan Fauziah Hisham - Chairman, J.P. Morgan Chase Bank Berhad
8. Puan Sarojini Ruth Rajasher - President, National Association of Women Entrepreneurs of Malaysia (NAWEM)
9. Encik Jeremy Lee Eng Huat - Chief Executive Officer, Financial Mediation Bureau and representative of Bank Negara Malaysia
The Small Debt Resolution Scheme was established in 2003 to provide assistance to viable small and medium enterprises that are constrained by financial difficulties which affected their financing repayment obligations. The Committee undertakes independent assessments on the viability of the SMEs’ businesses and proposes rehabilitation solutions through restructuring or rescheduling of existing financing facilities, or providing new financing, where appropriate.
Since its inception, the Scheme has received a total of 1,316 applications with 916 applications approved for restructuring or rescheduling involving financing amounting to RM1 billion. Of this amount, about 50 per cent of the SMEs assisted under the Scheme were able to improve its businesses cash flow conditions, turn around their businesses and continue to remain viable.
Bank Negara Malaysia
17 March 2015