PUNB a self-sustaining entity

PERBADANAN Usahawan Nasional Bhd (PUNB) is not seeking loans from the government any more as it turns itself into a self-sustaining entity.

Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/jrpunb/Article/
Published: October 17, 2012

Khairy Jamaluddin said the new approach follows his appointment as chairman of the Perbadanan Nasional Bhd subsidiary this year.

"We don't want to be a drain to the government. From this year onwards, we are going to use internal funds for our operations," he told reporters after launching the PUNB Biz Plan Challenge contest at its headquarters yesterday.

Khairy said PUNB has over RM800 million in debts owing to the government, which will be fully paid by year 2028.

"Even next year's allocation of over RM250 million to (Bumiputera) entrepreneurs will come from our own funds," he added.

Khairy said PUNB can be self-sustaining because its reserves and assets amount to more than RM1.5 billion to date.

PUNB plans to disburse RM200 million in loans this year and has given out a total of RM117 million.

He said PUNB will open new offices in Johor, Perak, Sabah and Sarawak next year.

Since its inception in late 1992, PUNB has provided loans to more than 3,000 businesses nationwide.

PUNB gives out a range of loans to prospective Bumiputera businesses, with the focus on integrated entrepreneur development packages to assist them in retail and small and medium enterprises.

On PUNB Biz Plan Challenge, he said the contest is open to individuals of 18-25 years old.

The closing date for the contest has been extended from November 15 earlier to November 30. The winners will be notified by mid-December.

The contest has two categories - students and the public.