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ITAF 3 - Industrial Technical Assistance Fund 3 (Malaysia)
a . The eligible SMI must complete the ITAF 3 application form by enclosing M&A, Form 9, 24, 49, Latest Audited Account and Manufacturing License (if paid-up capital is more than RM2.5 million) or Local Authority License to SMIDEC.
b . Within a month, an officer from NPC (National Productivity Council) will conduct a Factory Audit. (The officer will check if the actual factory is genuinely involve in production/ manufacturing, check for the validity of the relevant license, and to ascertain if the factory is situated in the approved/designated industrial area)
c . Within the next month, SMIDEC will release an approval letter to the SMI and the first 30% of the approved fund will be released to the SMI (no need to show invoice).
d . Upon the receiving the approval letter, the project can commence immediately.
e . Subsequent claims are at the next 30% and final 40% with invoice from Consultants. |
