Borrowers struggle to repay Tekun loans


Compiled by Vincent Tan, ALLISON LAI and R. ARAVINTHAN 

A TOTAL of 20,651 Indian entrepreneurs received about RM300mil in Tekun loans between 2017 and August 2018, but with less than half the monthly repayments being made, Malaysia Nanban reported.

Balaguru Gurupatham, the Tekun Nasional executive responsible for Indian loan applications and business owners, said based on the loans given out, about RM50mil should be repaid monthly.

However, the total repayment is less than RM20mil monthly.

The loans were given out to small business owners and entrepreneurs at 4% interest rate, but many still struggled to repay even half the loan amount, Balaguru said.

This made it harder for future applicants to secure loans and new approaches had been put in place to approve the loans and sustain the loan scheme, he said.

The main beneficiaries of the scheme are cattle and poultry rearers, vegetable farmers, workshop operators, contractors, hairdressers and textile traders.

 

The above articles are compiled from the vernacular newspapers (Bahasa Malaysia, Chinese and Tamil dailies). As such, stories are grouped according to the respective language/medium. Where a paragraph begins with a >, it denotes a separate news item. 

 
 

 

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