KUSKOP INCREASES KONTRAK-I SCHEME FINANCING AMOUNT TO RM200,000

PENSIANGAN, Jan 27 (Bernama) -- The Ministry of Entrepreneur Development and Cooperatives (KUSKOP), through the National Entrepreneurial Group Economic Fund (TEKUN), has increased the maximum financing limit through the Kontrak-i scheme to RM200,000 from this month.

Its Minister, Datuk Ewon Benedick said this was implemented after considering the feedback and job acquisition value for G1 contractors worth RM200,000 and below.

“This scheme provides immediate financing to entrepreneurs who have obtained work or supply contracts  from the Federal government, state, government agencies as well as government-linked companies (GLC) and apply for funding for these projects with a value of up to RM200,000.

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“This year, TEKUN has allocated RM200 million and over 3,100 entrepreneurs are expected to benefit from this,” he said when officiating TEKUN’s Pensiangan branch office, here, today.

Also present were Deputy Science, Technology and Innovation Minister Datuk Arthur Kurup, who is also Pensiangan Member of Parliament.

Meanwhile, Ewon said the Groom Big programme would assist TEKUN entrepreneurs, who are eligible and have a good repayment record, to obtain financing exceeding RM100,000 from other agencies under KUSKOP.

He said that through Groom Big, so far a total of 113 TEKUN entrepreneurs had obtained financing from PUNB, Bank Rakyat and SME Bank, with a total loan amount of RM17 million.

He added that TEKUN also provided financing to 28 eligible Amanah Ikhtiar Malaysia (AIM) entrepreneurs, with a loan value of RM926,000.

Since its formation in 1998 until last year, TEKUN has channelled financing totalling RM8.05 billion to 543,657 entrepreneurs through 170 of its branches nationwide.

Ewon said the number included financing to 23,017 Indian traders valued at RM396.8 million under the Indian Community Entrepreneur Development Scheme  (SPUMI) while for Sabah, TEKUN had channelled RM831.9 million to 58,516 entrepreneurs from 1998 to now.

TEKUN also provides financing to target groups, like persons with disabilities (PwD), ex-convicts, former drug addicts and the Siamese community who have attained citizenship.

“So far, TEKUN has collected payments amounting to RM6.1 billion, the amount has been loaned out again as funding for entrepreneurs, taking the total amount of financing TEKUN has given out to RM8.05 billion compared to the allocation provided of RM4 billion,” he said.

-- BERNAMA