KUALA LUMPUR, July 7 — Technology company, Cisco has introduced a new financing programme for small and medium enterprises (SMEs) in Malaysia to purchase its products at zero interest, with no upfront costs, and at a fixed three-year monthly payment term.
In a statement, Cisco said the offer extends to all its products portfolio including software, hardware, and services.
It said the launch of the programme came as Malaysia started to ease its Covid-19 measures, which see various economic sectors resuming their operations under the recovery movement control order (RMCO).
Cisco acknowledged that the prolonged disruption to supply chains and decreased business activities in the country have devastated the SMEs and left them struggling to maintain their operations in the aftermath of the pandemic.
Cisco Malaysia managing director Albert Chai said the pandemic has had a huge impact on businesses and caused a rapid shift in mindset as they are now more receptive to the idea of integrating technology in various aspects of their business and accelerate their digital transformation journey to survive in the current environment and drive future growth.
The SMEs are now looking to technology to digitise their businesses and resume operations in compliance with the set guidelines, open new growth opportunities and contribute to the overall economic recovery, he said.
“The new programme is aimed at providing financial support to the SMEs that seek to equip themselves with the necessary tools and solutions to accelerate their business in the new digital era. It will make it easier for local SMEs to start that journey.
“With the world going through an uncertain economic period, we at Cisco are committed to doing our part to help lighten the burden for Malaysian SMEs,” Chai added.
The zero per cent financing programme will provide the SMEs access to necessary technological enablers from Cisco without breaking their budget.
The SMEs will enjoy a three-year, full payout lease plan where they pay equal 36-month payments on their Cisco purchases that cost between US$20,000 and US$300,000 (RM85,600 and RM1.28 million), and will fully own the equipment at the end of the contract period. — Bernama
