Penang: The Bumiputera Agenda Steering Unit (TERAJU) approved nearly RM134 million in financing for 143 Bumiputera companies in the Northern Corridor Economic Region (NCER) from December 1, 2024, to May 31, 2026.
According to BERNAMA News Agency, Deputy Economy Minister Datuk Mohd Shahar Abdullah indicated that the financing was distributed through various TERAJU programmes designed to bolster the growth of Bumiputera companies in the northern region. A total of 260 companies from the northern region applied for TERAJU financing programmes, reflecting growing confidence among Bumiputera entrepreneurs in expanding their businesses.
Mohd Shahar noted that since 2016, TERAJU, through strategic collaboration under the NCER, has supported 61 Bumiputera projects with a total investment exceeding RM1 billion. These efforts have been supplemented by the Facilitation Fund amounting to RM132.71 million, creating nearly 3,000 job opportunities in the northern region.
He emphasized that these achievements illustrate the effectiveness of the Bumiputera development agenda in delivering tangible results, highlighting the substantial potential to further strengthen Bumiputera companies in the northern region. The government, through the Bumiputera Economic Transformation Plan 2035 (PuTERA35), aims to enhance quality Bumiputera participation in the economy, strengthen Bumiputera ownership of assets and wealth, and expand their participation in strategic sectors.
The event also witnessed the exchange of two memoranda of understanding (MoUs) between TERAJU and two companies, MMC Engineering Sdn Bhd and Malaysia Rapid Transit Corporation Sdn Bhd (MRT Corp). TERAJU chief executive officer Junady Nawawi reiterated the agency's commitment to bringing Bumiputera economic empowerment and development opportunities directly to the northern region.
Junady Nawawi stated that through strategic collaboration with key industry players such as MMC and MRT Corp, TERAJU is expanding access to financing, capacity-building, and actual markets for local entrepreneurs. Earlier this year, TERAJU introduced three strategic development programmes-ASCEND, ENHANCE, and XCELERATE-intended to help Bumiputera companies increase their capacity, strengthen competitiveness, and accelerate growth in high-value sectors.
Additionally, the agency introduced the Bumiputera Strategic Acquisition Fund (BSAF), an equity financing and structured facilitation programme aimed at supporting strategic corporate activities of promising Bumiputera companies, including preparations for capital market listings, mergers, and strategic acquisitions.
The event also included the handover of a project under the Bumiputera Entrepreneur Development Fund Programme to Universiti Malaysia Perlis through the Producing Mushroom Using Optimal Humidity System - Driven For Community initiative, which reportedly generated total revenue of over RM1.7 million.