PERNAS Has Channeled RM461 Mln To 2,283 Franchise Entrepreneurs Since 2014 - Ewon

KOTA KINABALU, Jan 5 (Bernama) -- Perbadanan Nasional Bhd (PERNAS), an agency under the Entrepreneur and Cooperatives Development Ministry (KUSKOP), has disbursed RM461 million in financing to 2,283 franchise entrepreneurs nationwide since 2014.

Entrepreneur and Cooperatives Development Minister Datuk Ewon Benedick said RM12.4 million was used to finance 68 franchise entrepreneurs in Sabah for their business expansion.

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"The franchise industry is growing rapidly, and this is a positive sign to further stimulate the domestic economy. To date, 3,565 franchise entrepreneurs, comprising both franchisors and franchisees, are registered under the Malaysia Franchise Express 2.0 (MyFEX 2.0) system," he said in a press release after officiating the Robert T 1994 Lucky Draw event at Suria Sabah Shopping Mall here today.

Ewon said RM6 million has been specifically allocated to finance the Young Entrepreneurship Engagement Talent Programme (YOUNITY) and the Successful Women Entrepreneurship Engagement Talent Programme (SWEET) this year.

"A RM3.5 million allocation is for the I-VIP programme (Veteran Entrepreneurship Initiative and Financing) and RM29 million has been set aside specifically for franchise and pre-franchise financing," he said.

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He added that last year, the Sabah Entrepreneur Empowerment Programme (PUSH) conducted by KUSKOP in collaboration with Sabah’s Industrial Development and Entrepreneurship Ministry (MIDE) helped 40 local entrepreneurs transform their businesses into franchises.

"In Sabah, there are various local franchise brands such as Sinar Suria, Nuvis, Fook Yuen Mok, and Happy Potato, which have contributed to the state economy," he said, adding that PERNAS is promoting local franchise brands through cooperation with ministries and agencies in the state.

Meanwhile, Ewon said PERNAS has provided RM500,000 in financing to Robert T 1994, Borneo’s local eyewear brand.

He said this would help Robert T 1994 expand across Sabah and hopefully, help the company to grow rapidly like other franchise entrepreneurs.

"Through this RM500,000 financing, I hope this will motivate and inspire other entrepreneurs nationwide to participate in the entrepreneurship sector.

"KUSKOP and agencies like PERNAS will continue to offer services and financing to meet the needs of entrepreneurs, so they can contribute to the country's economy and create job opportunities for Malaysians," he added.

PERNAS acting chief executive officer Tengku Mohamed Fadhli Tengku Hamzah, Robert T 1994 executive director Dr Robert Tang and managing director Hwang Chyi Chyi were also present at the event.

-- BERNAMA