The entrepreneur takes an initial appointment with the SEF team, where he submits the application form and business plan. After the first screening, the entrepreneur may be called for additional presentation and information required for project appraisal.

The project’s viability is assessed according to the following criteria:

1. The project objectives, its financial evolution, and the company’s strategy in the long-term.
2. The due diligence carried out on the entrepreneur and on the company, taking into consideration assets, liabilities and charges against the company and the promoter.
3. Financial statements of the company, past performance based on audited accounts, cash flow and other sensitive data, and the financial risks of the project. A valuation report on the existing assets may be requested.
5. Site visits
6. The company should not be in arrears with MRA and NPF and other authorities

The project is submitted to the Investment Committee for consideration. If the project is favourably considered, the Committee then recommends the project to the Board for approval. Terms and conditions for potential investment with respect to funding are then set by the Board.

Once Board approval is obtained, the entrepreneur is informed about terms and conditions prior to disbursement through an offer letter and draft Investment Agreement.

After his/her consent, the SEF assists the entrepreneur in preparation of necessary formalities in order to establish the new shareholding structure of the company.

Disbursement follows only after all formalities including compliance checks are completed, documents are signed and statutory filing completed. This process may take a minimum of 1 month. In the meantime, the entrepreneur has to ensure that pre-disbursement conditions are met.

Once disbursement is effected and the project has started, regular monitoring of progress is carried out by the investment team to ensure that the business is running correctly and that the pre-defined business plan timeframes are being respected.

NOTES: TO ADD BOARD COMMITTEE CHARTER, INVESTMENT COMMITTEE CHARTER AND AUDIT & RISK COMMITTEE CHARTER ON THE DOWNLOAD LINK