Tekun Nasional records RM2.07 bln in repayments

KUALA LUMPUR: The National Entrepreneur Group Economic Fund (Tekun Nasional) loan repayment collection has recorded an increase for the past four years with a total revenue of RM2.07 billion, the Dewan Rakyat was told yesterday.

Deputy Entrepreneur Development Minister Datuk Dr Mohd Hatta Md Ramli said in 2014, Tekun entrepreneurs had made loan repayment totalling RM312 million, and the collection continued to increase to RM355 million in 2015, 2016 (RM543 million), 2017 (RM554 million) and as of July this year RM302 million had been collected.

He said that based on the favourable repayment records, the government was targeting a total of RM600 million to be collected from Tekun entrepreneurs this year.

“For the period of 2013 to 2018 the government has provided an allocation of RM1.5 billion to be distributed to Tekun entrepreneurs.

“Based on that amount and Tekun Nasional’s own fund of RM1.27 billion, a total of RM 2.77 billion has been channelled to 175, 445 entrepreneurs,” he said.

Mohd Hatta said this in his reply to a question from Su Keong Siong (PH-Kampar) who wanted to know how effective the implementation of the Tekun scheme in helping entrepreneurs in rural areas.

To a supplementary question from Mohd Nizar Zakaria (BNParit), Mohd Hatta said the reduction in allocation for Tekun Nasional during the tabling of the 2019 Budget was not an indication its function was weakening.

“Although funding has been reduced from RM500 million to RM100 million, Tekun Nasional is still optimistic to be able to channel the entire RM350 million in lending fund with additional from Tekun’s internal fund of RM250 million.

“With the existing available fund Tekun Nasional aims at producing 50,000 micro entrepreneurs within a year,” he said. - Bernama