RM10 mln special allocation to YUM
SANDAKAN: About RM10 million of special allocation will be given to Yayasan Usaha Maju (YUM) in the State Budget 2018, which was an increase of RM4 million from State Budget 2017.
Disclosing this here yesterday, Chief Minister Tan Sri Musa Aman said that YUM had played an important role in contributing to the development of the people in Sabah, especially in lowering the hardcore poor rate in the state.
YUM which was established in 1995 is an agency that provides loan service for women micro entrepreneurs.
“In State Budget 2018, about RM10 million will be allocated to YUM under Special Allocation. I want to see YUM reach more people in the target group in line with the government’s strategy to encourage micro entrepreneurs development as well as Small and Medium Enterprises (SME) as catalyst of the state’s economy,” he said during the launch of the Entrepreneurs Loan Scheme of YUM at Libaran Hall here yesterday.
Musa said that he fully supported YUM’s five-year plan until 2020 in completing its mission of making YUM members successful entrepreneurs with high income.
“I urge YUM management to increase its capability and quality in delivering its service because quality is a moving target; YUM cannot stay in its comfort zone and be satisfied with only its current achievemet,” he added.
Around 1,000 members from YUM branches were present during the ceremony, including from Sandakan, Kinabatangan, Beluran and Telupid.
Meanwhile, Finance Ministry Permanent Secretary cum Board Director of YUM, Datuk Pg Hassanel Pg Mohd Tahir, said that he was happy that YUM had become a popular choice amongst women in rural areas to get business loans or other micro business development services.
He said that there were currently 33,000 YUM members across Sabah to date.
“RM6 million was allocated under Special Allocation of State Budget 2017. With this allocation, YUM had come out with Entrepreneur Loan Scheme designed to prepare more opportunities for women entrepreneurs.
“This scheme is also to fund YUM members who are growing and expanding their businesses.
“So far, the scheme receives very good response from the public since it was introduced a few months ago. It also has 100% repayment rate so far,” he said.
The ceremony ended with the presentation of YUM special award to two recipients who were biscuit seller Siti Jaliha Yusof, 52, from Papar who now owns a factory, and a grocery store owner and charity activities sponsor, Hajah Jaswati Hakim, 45, from Batu Putih here.
Also present was Sandakan Municipal Council President Datuk James Wong.