CGC Digital, Funding Societies and FarmByte sign MoU to narrow financing gap for MSMEs in agriculture segment

Quick Summary:

Modalku (Funding Societies) and FarmByte signed a Memorandum of Understanding (MoU) aimed at narrowing the financing gap for micro, small and medium enterprises (MSMEs) in the agriculture segment.

This strategic collaboration seeks to enhance access to financing and support the growth of agricultural businesses, thereby contributing to Malaysia's food security agenda and economic resilience.

CGC Digital will play the key role of mitigating risks as a leading credit guarantee provider and enhance its probability of default model with farm-level data as an alternative risk measurement for agribusinesses, thereby de-risking lending and improve access to financing through data-driven credit evaluations.

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Article Details

Category: EconomyBusiness

Markets: Malaysia

Topics: /Business/Business News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-14 @ 17:47:00 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 672 words

Reading Time: 4 minutes read

Sentences: 19 lines

Sentence Length: 36 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 26141309

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About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 5 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 5 hours ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #22

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