What is PLC Professional Liquidity Scheme?
PLC Professional Liquidity Scheme (PLC Scheme) is a scheme aimed to assist the Institute's Member Firms (MFs) to obtain advances for pre-determined staff costs, using the firm's issued invoices. The PLC Scheme is a collaborative initiative between the Institute and Pembangunan Leasing Corporation (PLC), a subsidiary of Bank Pembangunan Malaysia Berhad.
What is the objective of this PLC Scheme?
The objective of the PLC Scheme is to assist MFs with managing partners in good standing, who face difficulties in collecting payments from their clients who suffered financially from the COVID-19 pandemic.
The PLC Scheme will assist MFs to fund salary expenses with advances obtained from unpaid invoices. The margin of advance from the invoice value will be determined from your clients' credit scoring.
How does the PLC Scheme work?
Please refer to the flyer below for further details of the PLC Scheme:
Are there any fees charged for those who registered for the PLC Scheme?
MFs that are interested will have to pay a one-time RM200 registration fee. PLC charges RM186 for every accepted transaction to cover for the cost of this scheme and contribution of 2.16% on advanced amount for risk pool.
For how long this PLC Scheme is available for MFs?
MFs may apply for the PLC Scheme from July until December 2020.
How to register for the PLC Scheme?
MFs that are interested to participate may indicate their interest by filling up the online reply slip. Our staff will then approach the MFs for the next step.
For further enquiries, please email to Small and Medium Practices Department at firstname.lastname@example.org.