TEKUN: A total of RM3.6 million has been distributed to 143 Indian entrepreneurs from the RM100 million allocated for the Tabung Kumpulan Ekonomi Usaha Niaga Nasional (TEKUN Nasional), Deputy Minister of Entrepreneur and Cooperatives Development Datuk Seri R. Ramanan announced. This distribution follows the announcement made on January 14.
According to BERNAMA News Agency, the funding was provided to entrepreneurs who applied through the Indian Community Entrepreneur Development Scheme (SPUMI) and the SPUMI Goes Big programs. Of the total disbursed, RM555,000 was allocated to 14 entrepreneurs under SPUMI Goes Big, while RM3.061 million went to 129 entrepreneurs through SPUMI.
Ramanan stated that he will personally oversee monthly monitoring meetings to ensure the effective management and distribution of the RM100 million allocation. These meetings aim to enhance the efficiency of the SPUMI and SPUMI Goes Big initiatives.
Previously, Ramanan had announced the allocation of RM100 million to TEKUN Nasional, with RM50 million designated for each program. The goal is to empower and strengthen the economic development of the Indian community. He expressed confidence that this allocation will benefit approximately 5,000 Indian entrepreneurs this year, allowing them to expand their businesses amid challenging economic conditions.
He also encouraged interested Indian entrepreneurs to apply for the initiative via the TEKUN website or by visiting the nearest TEKUN office. Under SPUMI, financing between RM1,000 and RM50,000 is available for eligible applicants, while SPUMI Goes Big offers funding between RM50,000 and RM100,000, with approvals granted in less than 14 days.
As the Member of Parliament for Sungai Buloh, Ramanan urged the Indian community to seize this opportunity to improve their economic standing and contribute to the nation’s economic growth. Additionally, he emphasized the importance of responsible repayment by entrepreneurs who have received financial assistance to ensure that TEKUN can continue supporting more Indian entrepreneurs in the future.
Ramanan highlighted that since TEKUN operates these initiatives using internal funds rather than new allocations, timely repayment is crucial. Failure to repay could hinder future borrowers from accessing financial assistance.