Penn Programme Channels Over Rm8 Million To Indian Women Entrepreneurs As Of July 17

PETALING JAYA, July 19 (Bernama) -- A total of RM8.8 million has been disbursed to 1,229 Indian women entrepreneurs as of July 17 through the Prosperity Empowerment and A New Normal for Indian Women (PENN) programme.

Deputy Minister of Entrepreneur Development and Cooperatives Datuk R. Ramanan said the amount was part of a special RM50 million fund allocated by Amanah Ikhtiar Malaysia (AIM) for the programme, launched on April 13, which aims to empower and secure the future of Indian women entrepreneurs.

“The response received has been very encouraging and is expected to continue benefiting 10,200 Indian women nationwide.

"Perak recorded the highest number of applications with 396 Sahabat AIM (members), followed by Selangor and Kuala Lumpur with 293 Sahabat," he told a press conference after handing over mock cheques for PENN financing to 20 recipients at AIM headquarters in Damansara here today.

Also present were AIM Board of Trustees chairman Datuk Seri Syed Hussian Syed Junid and AIM managing director Mohamed Shamir Abdul Aziz.

Ramanan said AIM had achieved remarkable success by lifting over four million households out of poverty and maintaining a non-performing loan (NPL) rate of 0.09 per cent last year.

Meanwhile, a recipient T. Amutha, 50, said that the loan process with AIM was very easy, with a low-interest rate of 10 per cent.

"I joined AIM in 2009 and borrowed RM3,000 to open a grocery shop. The financing of RM23,000 will help me expand my business and reduce my burden," said Amutha, who runs her business in Kinta, Perak.

Snack seller V. Letchumy, 50, said she will use the PENN financing of RM25,000 as capital to buy new equipment and replace worn-out items.

"I sell ‘kacang putih’ at Indian temples in Kuala Lumpur and Selangor. The money I received today will be used to buy umbrella and business supplies," said Letchumy, who has been in the business for over 20 years.

-- BERNAMA