KUALA LUMPUR: A total of RM3.6mil from the RM100mil allocation for the Tabung Kumpulan Ekonomi Usaha Niaga Nasional (Tekun Nasional) has been distributed to 143 Indian community entrepreneurs since its announcement on Jan 14, says Deputy Minister of Entrepreneur and Cooperatives Development Datuk Seri R Ramanan.
He said the disbursed amount was granted to entrepreneurs who applied for Tekun Nasional funding through the Indian Community Entrepreneur Development Scheme (SPUMI) and Spumi Goes Big programmes.
"Of the RM3.6mil, RM555,000 was allocated to 14 entrepreneurs under SPUMI Goes Big, while RM3.061mil was provided to 129 entrepreneurs through Spumi,” he said in a statement on Saturday (Feb 8).
To ensure the RM100mil allocation is effectively managed and distributed, Ramanan said he will personally chair monthly monitoring meetings for SPUMI and SPUMI Goes Big to enhance the efficiency of these initiatives.
Previously, Ramanan had announced the RM100mil allocation to Tekun Nasional under the SPUMI and SPUMI Goes Big initiatives, with RM50mil designated for each programme to strengthen and empower the economic development of the Indian community.
Ramanan, who is responsible for Indian community affairs, expressed confidence that this allocation will benefit about 5,000 Indian entrepreneurs this year, enabling them to expand their businesses amid an increasingly challenging economic landscape.
He further encouraged interested Indian entrepreneurs to apply for the initiative through the Tekun website or by visiting the nearest Tekun office.
"Under Spumi, Tekun provides financing between RM1,000 and RM50,000 for eligible applicants, while SPUMI Goes Big offers funding between RM50,000 and RM100,000, with approvals granted in less than 14 days,” he said.
Ramanan, who is Sungai Buloh MP, urged the Indian community to seize this opportunity to improve their economic standing and contribute significantly to the nation’s economic growth.
At the same time, he emphasised the importance of responsible repayment by entrepreneurs who have received financial assistance, ensuring that Tekun can continue supporting more Indian entrepreneurs in the future.
"Since Tekun operates these initiatives using internal funds (rather than new allocations), timely repayment is crucial. Failure to do so will hinder future borrowers from accessing financial assistance,” he added. - Bernama
