PUNB allocates RM200m loans for Bumi businesses

Source From (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/kayjay/Article/

Published: on 18 May 2012
By Roziana Hamsawi

PERBADANAN Usahawan Nasional Bhd (PUNB) is allocating RM200 million worth of loans and financing to Bumiputera companies and businesses this year.

Chairman Khairy Jamaluddin said as at the first quarter of 2012, about RM33 million had been disbursed.

Of the RM200 million allocation, RM68 million is for the retail sector, RM20 million for the small and medium enterprises (SMEs) in the manufacturing sector and RM60 million for the wholesale sector.

The remaining RM52 million will be channelled to those who are involved in large-scale retail operations, Prosper for Graduates (Prosper Siswazah) and Prosper Property, where PUNB buys properties and lease them to the companies it is financing.

Khairy said this to reporters after officiating at PUNB's Auto Forum 2012 here yesterday. This was his first public event since his appointment as chairman on April 1.

He also said that this year, PUNB is targeting to provide RM12 million in financing to 67 automotive companies and businesses.

Up until April 30, 15 companies received assistance, involving a disbursement of RM2.67 million.

He said PUNB has, to date, developed 311 automotive businesses, where RM74.53 million has been disbursed to more than 400 Bumiputera entrepreneurs.

From the 311 companies, 197 were developed through PUNB's Prosper Retail Scheme, 78 from Prosper Teras Programme, 25 from Prosper Graduate Scheme, seven from Prosper Wholesale Scheme and four from the SME Scheme.

Earlier in his speech, Khairy said the automotive field is a challenging business, not only due to the implementation of the government's policies and guidelines but also from within the business itself.

This, he said, directly impacts the ecosystem of the automotive industry from the component maker or service providers to consumers and end-consumers.

He said based on PUNB's observation of the automotive sector in the last decade or so, most Bumiputera entrepreneurs operate small businesses with very limited equipment.

"And if we go to non-Bumiputera-owned workshops, most of the support workers such as mechanics and foremen are Bumiputeras ... this indicates that Bumiputeras are skilled in this field," he said.

Khairy added that PUNB has helped out these entrepreneurs to strengthen their businesses and some of the support workers are now successful in their own businesses.