Govt allocates RM100m for ECER bumi companies under Teraju fund

Source From (The Edge Malaysia): http://www.theedgemalaysia.com/business-news/215662-govt-allocates-rm100m-for-ecer-bumi-companies-under-teraju-fund.html

Published: on 20 Jun 2012

KUANTAN (June 19): The government has allocated RM100 million for the development of Bumiputera companies in the East Corridor Economic Region (ECER) to ensure their active participation in driving the country's economy.

Minister in the Prime Minister's Department Tan Sri Nor Mohamed Yakcop said the financial assistance will be chanelled through the Facilitation Fund under the Bumiputera Agenda Steering Unit (Teraju).

This will make ECER the fourth economic region to receive funding from the fund which has a total allocation of RM2 billion, he said.

"The RM100 million fund has been allocated to help Bumiputera entrepreneurs in ECER get fundings for this year and next.

"It is my hope that entrepreneurs in the ECER region will use the funds in the best possible way to expand and bring up their businesses," he told reporters after launching Jejak 2012, a programme initiated by Teraju for entrepreneurs, here on Tuesday.

Also present at the event was Pahang State Secretary Datuk Seri Muhammad Safian Ismail and Teraju chief executive Husni Salleh.

The Jejak 2012 meanwhile is an effort by Teraju to provide assistance to Bumiputera entrepreneurs throughout the country starting with the Northern Corridor Economic Region and followed by the Sarawak Corridor of Renewable Energy, Sabah Development Corridor and Iskandar Malaysia.

At the event, Teraju also launched its one-stop centre namely Teraju@ECER to ensure the effectiveness of its role as the facilitator of the Bumiputera economic transformation agenda in the region.

The one-stop centre will coordinate the programmes of all agencies related to the development of entrepreneurs and with that, local entrepreneurs will be able to get the assistance and support needed all from within a single location.

Nor Mohamed said that todate, seven projects nationwide worth RM692 million have been approved for funding, involving a total of RM82 million.

These projects cover the agriculture sector, wholesale and retail, communications infrastructures and content, as well as the oil, gas and energy sector.

"We are currently inviting Bumiputera companies in ECER to apply for funding and we will identify the companies qualified for the financing."

Nor Mohamed said the financing will be given in the two months time and that a return of up to RM700 million had been projected from the funds given to ECER. — Bernama