SME Corp gives out over RM1.96 mln loans to Bumi companies
KUCHING: SME Corp has approved more than RM1.965 million in loans to 10 local Bumiputera companies to expand their businesses since January this year.
According to Assistant Minister for Entrepreneur Development Datuk Mohd Naroden Majais, the fund under the Bumiputera Enhancement and Enrichment Programme ( BEEP) was to help Bumiputera companies which have potential to grow and expand.
Naroden told reporters this after a meeting with SME Corp Malaysia, which was represented by its second deputy chief executive officer Mohd Rithaudden Makip at Naroden’s office at Wisma Bapa Malaysia, Petra Jaya, here yesterday.
The meeting was a follow up to the previous BEEP technical meeting on Feb 24, which was attended by variousentrepreneurs agencies from the state.
Naroden urged Bumiputera companies in the state to use the new mechanism in doing their business to improve their performance and competitive edge.
“Bumiputera companies need to use new technology for doing business to be able to compete.. the government is committed to change the business landscape using digital technology,” Naroden, who is also Assistant Minister of Resource Planning said.
BEEP is an initiative of SME Corp Malaysia in the form of a matching grant, about 50 per cent of the approved project or a maximum of RM500,000 for each company.
As of last year, 123 projects involving 63 companies have been approved under BEEP with a total allocation of RM9.7 million.
The companies include construction, oil and gas, pharmacy and tuition centres, among others.