RM50mil for Indian entrepreneurs

KUALA LUMPUR – Bank Rakyat allocated RM50mil to the Indian entrepreneur communities involved in micro,small and medium enterprises (MSMEs), to help them expand their business.

Datuk Ramanan, Deputy Minister for Entrepreneur and Cooperatives Development, said that the initiative would be implemented via the newly launched Bank Rakyat Indian Entrepreneur Financing (BRIEF)-i programme.

The group will be able to expand its business in various sectors, including agriculture, small contractors, retail, service, manufacturing, and online business.

Ramanan, who spoke at the launching of the Menara Kembar Rakyat Bank, stressed the importance of such funding initiatives to help SMEs take their businesses to the next stage.

He said that economic strength was one of the most important factors that determined the future of Indian communities in the area.

Micro enterprises with an operating history of at least one-year and a good CTOS or CCRIS score are eligible for financial assistance. SME entrepreneurs who have been operational for two years must also maintain a good CTOS or CCRIS score and have a positive value for their net assets.

In his opening remarks, Bank Rakyat Chairman Datuk Mohd Irwan Mubarak echoed the same message of support for entrepreneurs.

He said: “We hope the launch of this program will provide relief and solution to SME entrepreneurs so that they can continue their businesses, as well as making their companies progressive, comprehensive, and integrated.”

Also in attendance at the opening ceremony was a number of long-serving Indian entrepreneurs from Malaysia.

Sathies Supramaniam, a transportation professional who has worked in the industry since 2012, was one of them.

“We get the necessary working capital and hire-purchase facilities from Bank Rakyat, since we run a variety of buses that we use for school tours and other services.

He added, “This initiative is excellent for those in the early stages to their business development and we hope more Indian entrepreneurs will grow with Bank Rakyat.”

Rajkumar Batumalai, a businessman in the transportation industry from Airport Coach and Care Travel hopes the government will continue to support this type of support over the next few years and inspire a new generation.

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