Application Process
A. GTFS Application Process
1. GTFS Application
All applications shall only be made online via e-mail submission. Any supporting documents that are deemed necessary to support the application shall also be included along with the application form submission. MGTC will screen all applications to ensure it meet the GTFS criteria, application form dully filled and all supporting documents (soft copies) well documented and provided. Any additional document requested by MGTC shall be submitted with five (5) working days. Upon completion of screening process, MGTC will issue notification to relevant applicant whether their application will be considered for further process or rejected.
2. Technical Evaluation & Risk Assessment
The Technical Evaluation team will evaluate the application in accordance to the procedures and standards of each project category. Applicants may be asked to provide additional information/data/drawing/report that deemed necessary for technical evaluation purpose. All additional information must be delivered within five (5) working days or any duration as agreed by MGTC on special case. Technical Evaluation team will submit and present the GTFS project to the GTFS Technical Committee (GTC) for their consideration and approval. All applicants will be officially notified on their approval status. Subsequently, a Green Project Certificate will be issued to the successful applicants and is valid for six (6) months from the issuance date. The Green Project Certificate are used only for the purpose of loan application to Financial Institutions and it must not be used for any other purpose. MGTC reserved the right to recall the Green Project Certificate if evident was found and proven that the said certificate was wrongly used.
3. Submission to Financial Institutions for Financing/Loan
Successful applicant shall be able to submit their financing application together with Green Project Certificate and other relevant documents to any participating financial institutions of their choice. All applications shall comply with the procedures and guidelines of the respective Financial Institutions. Each Financial Institution will evaluate the loan application and issue a Letter of Offer (LO) to successful applicant. The government will bare 1.5% of the total interest rate or profit charged by PFIs.
4. Guarantee Approval
Credit Guarantee Corporation Malaysia Berhad (CGC) will provide a guarantee of 60%-80% according to the sectors on the approved financing amount. Upon guarantee approval, CGC will issue a Letter of Guarantee (LG). A guarantee fee of 0.5% per annum on the total guarantee amount will be charged to the borrower. Copy of the LG will be sent to the respective PFIs ,applicant and MGTC.
B. Financing Execution
1. Agreement and Documentation
Upon receipt of the Letter of Guarantee (LG) by the CGC, the respective PFIs shall proceed with the financing agreement.
2. Fund Disbursement
Fund disbursement shall follow the respective PFIs procedures.
C. Project Outcome
1. Project Monitoring and Verification
GTFS recipients are required to submit GTFS Quarterly Report until project commissioning.
2. Monitoring and Verification Audit
The GTFS recipients are to submit GTFS M&V Audit Report six (6) months upon commissioning. M&V Audit will be conducted by MGTC annually throughout their financing tenure.
