KUALA LUMPUR: The Secretariat for the Empowerment of Indian Entrepreneurs (SEED), set up in August 2012, has disbursed RM347.32 million in loans through the National Entrepreneur Group Economic Fund (Tekun Nasional) to 9,318 Indian Malaysian entrepreneurs.
Natural Resources and Environment Minister Datuk Seri G.Palanivel, who is in charge of SEED, said about RM131 million, or 40 per cent of the loans, were disbursed to 9,067 Indian entrepreneurs.
“The balance was for the small and medium enterprises (SME) sector. We have made good stride in the SME sector, with RM216 million being disbursed throughout the last 18 months.
“This has been made possible by our partnerships with the Malaysian Development Finance Institution (MIDF), SME Bank and the SME Financing Scheme.”
Forty-five per cent of the loans were given to entrepreneurs in the service sector.
Other recipients were from the food and beverage, plastic, metal fabrication, chemical, tourism, paper and printing, infrastructure and utility, and basic iron and steel industries.
For the 2015 Budget, Palanivel said SEED would request the government to allocate another RM100 million for Indians in the micro finance sector and RM50 million for SMEs.
SEED plans to set up a one-stop centre for Indian entrepreneurs that caters to business needs under the franchise model.
Its executive director, Dr A.T. Kumararajah, said this one-stop centre would be a platform to provide a systematic business approach and increase competitiveness among franchisees.
The centre, he said, would also provide a comprehensive entrepreneurial development programme, arrange business loans as well as handle applications for business licences. Bernama