Budget 2016: Nearly RM5bil to advance the bumiputra agenda

Ekuinas has been allocated RM400mil under the latest budget. The photo shows Ekuinas CEO Datuk Abdul Rahman Ahmad next to the company's logo.

KUALA LUMPUR: The Government plans to boost bumiputra equity ownership, commercial real estate ownership and entrepreneurship by allocating RM800mil to three government-linked companies.

Of the amount, private equity firm National Equity Fund Ltd (Ekuinas) receives RM400mil, financial and corporate support provider Perbadanan Usahawan Nasional Bhd (PUNB) RM250mil, and real estate investment firm Pelaburan Hartanah Bhd RM150mil.

Also as part of its efforts to advance the bumiputra agenda, the Government is allocating RM3.7bil to Majlis Amanah Rakyat (Mara) for expenditure, including for the sponsorship of 72,000 bumiputra students to continue studies at tertiary level.

In addition, it is giving RM150mil each to the Bumiputra Agenda Unit (Teraju) and Bumiputra Education Steering Foundation.

Teraju’s budget will be used to carry out programmes such as the Bumiputra Entrepreneurs Startup Scheme and High Performing Bumiputra Companies Programme. Meanwhile, the foundation’s programmes include Peneraju Tunas, Peneraju Professional and Peneraju Skil dan Iltizam.