18,116 Entrepreneurs In Selangor Receive RM1.1 Bln In Financing - Ramanan

KUALA LUMPUR, Oct 26 (Bernama) -- A total of 18,116 entrepreneurs in Selangor have received financing amounting to RM1.1 billion from agencies under the Entrepreneur Development and Cooperatives Ministry (KUSKOP) from January until August this year to expand their businesses and increase their competitiveness.

Entrepreneur Development and Cooperatives Deputy Minister Datuk Seri R. Ramanan said that of this amount, RM126.4 million was allocated to 14,406 Sahabat Amanah Ikhtiar Malaysia (AIM), RM73.1 million to 3,324 entrepreneurs under TEKUN Nasional and RM253.9 million was disbursed by Bank Rakyat to 208 individuals.

In addition, SME Bank provided RM645.7 million to 152 entrepreneurs, while RM5.8 million was allocated for franchise financing under Pernas to 26 companies.

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“Today, as part of KUSKOP’s ongoing efforts to assist entrepreneurs and cooperatives, I will present financing cheques totalling RM5.4 million from four KUSKOP agencies, namely Bank Rakyat, SME Bank, TEKUN Nasional and SME Corp to eligible entrepreneurs,” he said at the Central Region One District One Industry (SDSI) Showcase in Sungai Buloh, Selangor.

Regarding the SDSI, Ramanan said it aims to create an inclusive ecosystem for entrepreneurs to showcase and sell products that reflect their district’s identity.

He added that 50 entrepreneurs from Selangor, Negeri Sembilan and the Federal Territory participated in the Central Region SDSI Showcase.

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“This SDSI Showcase also demonstrates the effectiveness of collaboration between the federal and state governments in developing high-quality local entrepreneurial products that can penetrate both domestic and international markets,” he said.

The ministry is also hosting the BIAYA programme at the event, which brings together public, private and alternative financing agencies under one roof to help entrepreneurs select financing products that suit their needs.

During the event, Ramanan officiated the MADANI Cooperative and Entrepreneur Sales (JMKU) organised by the Malaysia Cooperative Societies Commission in conjunction with the Deepavali celebration, offering items such as sugar, flour, cooking oil, chicken and mutton at a discount of around 20 per cent off market prices.

-- BERNAMA