Temporary anti-dumping measures on ethanolamine products produced in the Malaysia, Saudi Arabia, Thailand and the United States is also being introduced.
BALIK PULAU: A group of 71 Bumiputera entrepreneurs in Penang had received over RM2.5mil in assistance in the forms of business grants and loans for expansion.
Datuk Dr Muhamad Farid Saad, Chairman of the Focus Group for the Development of Bumiputera Entrepreneurs and Cooperatives Penang, said the entrepreneurs had received financial grants for advertisements, machineries as well as loans under the Entrepreneurs Business Capital Scheme (SMPPU).
He said 35 of the entrepreneurs received grants amounting to RM265,000 for machineries and tools, and 75 machines and tools were also distributed according to their requirements.
“The grants were exclusively for entrepreneurs with sales of RM300,000 or less per year,” he told reporters after the fund distribution ceremony here today.
Muhamad Farid said 13 Bumiputera entrepreneur companies had also received advertising grants, enabling them to advertise their products on TV Alhijrah, Metro Online and Utusan, among others.
Additionally, 23 entrepreneurs had received loans under the SMPPU, of between RM20,000 and RM200,000 to help them buy raw materials, stocks, packaging as well as business premises.
Meanwhile, Muhamad Farid said, the Focus Group planned to set up the Penang Entrepreneurs Chamber, with members comprising those who have received financial assistance from the government in the state.
One of the beneficiaries under the SMPPU programme, Light of Life Venture Enterprise Director, Nur Diana Emilia Zainuddin, 23, said the funds and financial assistance programme were beneficial and should be continued in order to assist young entrepreneurs in their business ventures.
“I am thankful to receive the RM200,000 loan under the SMPPU scheme, which will be used to increase my stocks, among other things,” said the cosmetics product entrepreneur.
She said the company was capable of increasing sales to up to RM300,000 per year. - Bernama
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