RM50mil for Indian entrepreneurs
KUALA LUMPUR: Bank Rakyat has allocated RM50mil for the Indian entrepreneur community involved in micro, small and medium enterprises (MSMEs) to enable them to expand their businesses.

Entrepreneur and Cooperatives Development Deputy Minister Datuk R. Ramanan said the initiative will be implemented through the newly-launched Bank Rakyat Indian Entrepreneur Financing-i (BRIEF-i) programme.

The initiative will help the group to develop its businesses, covering various sectors including small contractors, agriculture, retail, services, manufacturing and online business.

Speaking at the launching ceremony at Menara Kembar Bank Rakyat, Ramanan emphasised the need for such funding initiatives for SMEs to take their business to the next level.

“Economic strength is one of the major factors that determines the future of the local Indian community,” he said.

Among the eligible applicants for this financial aid include micro enterprises that have been in operation for at least one year with a satisfactory CTOS and CCRIS record, while SME entrepreneurs must be operational for at least two years, maintaining a satisfactory CTOS and CCRIS record as well as having a positive net asset value.

Bank Rakyat chairman Datuk Mohd Irwan Mubarak also echoed a similar message of entrepreneurial support in his opening remarks at the BRIEF-i launch.

“We hope that the launch of this programme will provide relief and solutions to SME entrepreneurs to continue their business, besides making their companies more progressive, comprehensive and integrated,” he said.

Also present at the opening ceremony were several long-serving entrepreneurs in the Indian community in Malaysia.

One of them was Sathies Supramaniam from Sanwa Tours Malaysia Sdn Bhd who has been in the transportation industry since 2012.

“What we get from Bank Rakyat through this aid is facilities for hire purchase and necessary working capital, as we operate a wide range of buses for schools and tours alongside other services.

“This initiative is great for those who are still in the early stages of their business development, and we hope that more Indian entrepreneurs can grow together with Bank Rakyat,” he added.

Another businessman from the transportation industry, Rajkumar Batumalai from Airport Coach and Care Travel, hopes that the government can continue with this kind of support in the coming years and spark a new generation of entrepreneurs.

Interested parties can visit Bank Rakyat’s website and QR2E (Quick Response to Entrepreneurs) at www.bankrakyat.com.my and https://qr2e.bankrakyat.com.my for more information.
KUALA LUMPUR: Bank Rakyat has allocated RM50mil for the Indian entrepreneur community involved in micro, small and medium enterprises (MSMEs) to enable them to expand their businesses.