Single Contract Financing

  • What is Single Contract Financing?

    Single Contract Financing Facility ("SCF") is a short-term non-revolving credit facility cater to assist company which have secured a contract from the approved awarding parties. At present, MyCreative' s approved awarding parties are Malaysia government agencies, ministries, statutory bodies and government link companies. Funding for any other contract awarder than the above would require a separate approval from MyCreative.

  • Purpose

    Working Capital

  • Eligibility

    • A company incorporated in Malaysia (Sdn Bhd)
    • Minimum 51% active Malaysian shareholder(s)
    • Minimum 2 Director(s) I Shareholder(s)
    • Within 10 supported creative pillars of MyCreative which includes, Content Creation,
    • Performing Arts, Visual Arts, Creative Education, Culinary Arts, Traditional & Cultural Arts,
    • Fashion, Literature, Music, and Design
    • Valid executed Contract Agreement I Letter of Award

  • Salient Terms of Single Contract Financing

    • Financing up to 70% of Contract Value or 90% of Production Cost, whichever is lower
    • Maximum funding amount of RM1.0 million
    • Maximum tenor of 18 months
    • Interest rate from 6.00% per annum (Reducing Balance)
    • Bullet/ Staggered repayment (Principal+ Interest) upon receive of contract proceeds
    • Processing fee from RM500 to RM1,000

    Note: Fulfilment of the Eligibility Criteria DO NOT CREATE AN OBLIGATION OR GUARANTEE on the financing approval by MyCreative. The applicant that comply with the above eligible criteria may apply for Single Contract Financing and MyCreative Investment Committee will review and decide on the outcome.

  • Collateral

    • Joint and Several Guarantee of Directors I Shareholders
    • Assignment of Contract Proceeds,
    • Charge over the Collection Account

  • Submission

    Single Contract Financing Facility by MyCreative only accept Over the Counter ("OTC") submission with appointment at the moment.

    Interested company is required to complete the application form and prepare all required documents stipulated in the application form prior making an appointment with MyCreative.

    Kindly contact us at 03-7712 7212 and speak to Investment Department for appointment booking or clarification .

  • Download Application Form & Relevant Documents

    Single Contract Financing Application Form - Download

    Statutory Declaration Form - Director and/or Shareholder - Download

    CTOS consent Form - Download

For further inquiries, please contact us at 03-7712 7212 and speak to Investment Department.

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