PETALING JAYA: Bay Smart Capital Venture Sdn Bhd (CapBay), a local fintech company providing supply chain finance and peer-to-peer financing platforms, has signed a memorandum of understanding with the Bumiputera Infrastructure and Facility Management Contractors Association (PKIF) to empower Bumiputera contractors through efficient access to financing to drive growth and streamline business operations.
This initiative aligns with the aspirations of the Madani Economy and the National Construction Policy 2030 in driving the competitiveness of the national construction ecosystem.
Through this collaboration, about 70 active PKIF members involved in critical infrastructure – such as road construction, bridges, electrical works and facility maintenance – will enjoy faster and more flexible digital financing access.
“As a fintech entity committed to the growth of SMEs in general, this collaboration represents our proactive step in assisting SMEs involved in the nation’s infrastructure and facility management industries. With a track record of disbursing RM5 billion in funds to over 2,400 SMEs, CapBay is ready to catalyse transformation in this sector through more dynamic capital liquidity,” said CapBay industry specialist general manager Aminbasha Basharudin.
Meanwhile, PKIF president Datuk Seri Dr Arifuddin Mohamed Shah commented, “This strategic partnership is a manifestation of our commitment to safeguarding the welfare and progress of our members. With the support of financing access facilities from CapBay, we are confident that PKIF members will become more competitive and capable of contributing more significantly to the country’s economic development.”
CapBay and PKIF view the collaboration as a catalyst for a new era in the empowerment of Bumiputera contractors, supporting national aspirations to develop efficient, sustainable, and world-class infrastructure.
