Teraju allocates RM45m to help Sabah Bumiputera entrepreneurs
Bumiputera Agenda Steering Unit (Teraju) has set aside a RM45 million grant this year for Bumiputera entrepreneurs in Sabah to expand their businesses.
Teraju senior director (entrepreneurship and business development) Megat Mohd Yatim Megat Hamid said a company with a project worth at least RM500,000 could apply for the fund.
“Teraju will provide assistance up to 15 per cent of the total cost, to be reimbursed upon completion of the project,” he said during a media visit to Kotamas Oil Sdn Bhd at the Kota Kinabalu Industrial Park in Sepanggar, near here, yesterday.
Kotamas had received a RM1.16 million funding from Teraju last October.
The company bought 18 lorries after Petroliam Nasional Bhd extended its contract to transport petroleum products in Sabah until 2019.
Yatim said under the facilitation fund, Teraju had reimbursed a total of RM139 million to more than 50 companies in Sabah in the past five years.
Those projects, worth RM1.04 billion, included construction, oil and gas, agricultural, business and services, retail and wholesale, tourism, food and manufacturing, automotive and healthcare.
Teraju was initiated by Prime Minister Datuk Seri Najib Razak in 2011 to lead, coordinate and drive the Bumiputera economy through new and existing initiatives.
For the past five years, the unit had channelled RM168.8 million under five initiatives to assist Bumiputera in Sabah.
The five initiatives are the facilitation fund, high-performing Bumiputera companies, entrepreneur Bumiputera startup scheme, Sabah Bumiputera entrepreneur development fund and Bumiputera entrepreneur development fund for non-governmental organisations.
He said RM9.91 million loans had been approved as working capitals for 45 high-performing companies in Sabah.
“Seven entrepreneurs from here, Tawau, Ranau and Penampang also received RM150,000 each to develop their products such as handicraft, food products and technology,” added Yatim.