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How may we help you? edited

Edit Seagate Global invest our capital in materials and machinery to help local construction company  awarded government contracts

TO ASSIST LOCAL MALAYSIANS CONTRACTORS

Is a program specifically designed to assist Local Malaysians contractors that were awarded contracts from the Malaysian Government.

EASY AND SAVE TIME

Contractor does not have to go through the complex and time consuming process of obtaining a bank or factoring company loan.

Kolaborasi WITH MALAY CONTRACTORS ASSOCIATIONS (PKMM)

Seagate Smart Partnership Program works closely with Persatuan Kontraktor Melayu Malaysia (PKMM) to assist its members that need funding for their project.

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FUNDING PROVIDER

Seagate SPP will provide funding based on a short form application process and simple documentation.

INVEST IN MATERIALS & EQUIPMENTS

Seagate Global Trading will INVEST the purchase of Local Malaysians contractors in terms of building materials and equipment rentals or purchases.

TRUSTED AND RELIABLE

In this innovative program, the government achieve their goals by having their project completed on time. Local companies can improve their cash flow at a competitive cost. Local suppliers receive payment guarantees from SGT for orders, on behalf contractors.

Comparison Between Factoring Company, Bank Financing & Seagate SPP Program

Factoring Company 

  • You are simply borrowing money you already had and invested in the project
  • You must have the money first
  • Company documentation needed
  • At least 3 years of audited financial statements
  • Application process more than 3 months and may be rejected
  • Advanced/Deposit value from the project value must be 70%
  • Very high cost
  • Ctos CCRIS Checking required
  • Investment value is based on the contractors balance sheet or financial strength
  • Loan maybe rejected if contractor has bad financial record

Seagate SPP Program

  • Investment by SGT in the project, not a loan to the Contractor
  • Contractor completes simple investment due diligence form
  • Contractor needs to pass background check
  • Contractor provides Government Letter of Award
  • Fast processing- less than 1 week to decide whether SGT will invest or not
  • SGT has standard legal docs that can be signed by contractor in 15 mins
  • Cost of legal fees is incorporated as part of the cost structure without requiring contractor to pay up front
  • SGT has no limit on our investment value per project, as long as the Government agrees as it fits our investment criteria
  • The contractor will still receive their own portion for Work Done direct from the government.
  • Contractor has control over their own part of the payment from the Government
  • SGT invests in materials & machineries for project, so that the contractor can use their limited capital for labour & other purposes.
  • As long as contractor has a Letter of Award from the govt & accepts SGT expected investment returns, SGT will invest. Subject to availability of funds at any point in time
  • Once all documentation is executed, SGT will start delivering materials & machineries within 14 working days to the site

Bank Financing 

  • Project Financing structured as a loan to contractor
  • Contractor must have 3 years audited accounts – no audited accounts means rejection
  • Contractor to provide docs such as company docs, banks statement, LA etc. (time consuming)
  • Contractor to wait 1-6 months for loan approval
  • Contractor must wait 2-3 weeks for lawyer to prepare legal docs after loan approved
  • Contractor to pay legal fees first before disbursement of loan ( up front cash by contractor)
  • Loan is maximum 70% of contract value, balance to be financed by contractor
  • Contract proceeds assigned fully to he bank. Bank will deduct their principal, interest, bank charges & all fees before giving the balance back to the contractor. contractor has no control over the balance amount
  • Loan value is dependent on contractors balance sheet (financial strength), not the contract value
  • Even after loan approved, bank may still delay disbursement of monies to the contractor
  • Loan value approved may not be enough for working capital in the project
  • Loan may be rejected if contractor has bad financial record

SPRM Project, Shah Alam

Seagate Investment – RM6Million

Rantau Project, Negeri Sembilan

Seagate Investment – RM500K

Our recent work

Seagate Global Trading has invested in government projects across Malaysia, by partnering up with contractors by purchasing materials on their behalf.

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Government acknowledgement

Malaysia government acknowledges the Seagate Smart Partnership Program  to assist Local Malaysians contractors grow by providing financial support for project materials and machinery purchases.

The program provides local companies with needed construction materials and machinery on a timely basis which helps them to better utilize limited capital and increase their cash flow.The program uses the co-op volume purchasing power and the strong balance sheet of Seagate to purchase materials in bulk to help local contractors obtain better pricing from local suppliers and reputable manufacturers, while SGT guarantees the payment to the supplier, eliminating the possibility of loss by the supplier.

Get in touch

Should you have any inquiries please kindly contact us as below. It is our pleasure to assist you.

VISIT US

32B, Jalan Diplomatik,
Diplomatic Enclave,
62050 Putrajaya, MALAYSIA.

CONTACT US

+603.8861.8017

General line

+603.8861.8016

Fax line

EMAIL US

info@seagateglobal.com.my