OVER 29,000 INDIAN COMMUNITY ENTREPRENEURS BENEFIT FROM SPUMI - RAMANAN

KUALA LUMPUR, June 13 (Bernama) -- A total of 29,136 Indian community entrepreneurs have received financing under the Indian Community Entrepreneur Development Scheme (SPUMI) amounting to RM458 million as of May 31.

Deputy Minister of Entrepreneur Development and Cooperatives Datuk R. Ramanan said this figure is based on recorded data since the implementation of the financing scheme in 2008.

"Since its implementation in 2008, TEKUN Nasional (National Entrepreneurial Group Economic Fund) has received allocations totaling RM421.5 million to implement the SPUMI programme. For the year 2024, a total of 666 individuals have received financing amounting to RM18 million.

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"Additionally, for SPUMI Goes Big, 51 applicants have received financing approval totaling RM2.5 million," he told a presss conference at the disbursement ceremony of TEKUN SPUMI and SPUMI Goes Big cheques at TEKUN Nasional headquarters here today.

Also present were TEKUN Nasional chairman Datuk Abdullah Sani Abdul Hamid and its Chief Executive Officer Datuk Adam Abd Ghani.

On the SPUMI Goes Big programme, he said that a total of 81 applications have been received amounting to RM7.2 million since its launch on April 3.

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"Out of this total, 51 applications have been approved while 27 others are still in the approval process pending board meetings," he added.

Ramanan also reminded recipients of the scheme to repay their financing within the stipulated period to ensure the funds can benefit other entrepreneurs.

The Member of Parliament for Sungai Buloh also emphasised the ministry's ongoing focus on empowering the economic initiatives of the Indian community, which plays a crucial role in the country's economic growth.

-- BERNAMA