PETALING JAYA: As of January, 137,520 micro, small, and medium-scale enterprises (MSMEs) have outstanding loans with the National Entrepreneurial Group Economic Fund (Tekun Nasional) that exceed six months, totaling RM1.1 billion.
Since Tekun Nasional's inception in 1998, a total of 789,489 borrowers have received financing loans amounting to RM9.15 billion.
The highest number of borrowers recorded according to states are located in Selangor (22,662), followed by Sabah (16,945), and Kedah (14,823).
Deputy Entrepreneur Development and Cooperatives Minister Datuk R. Ramanan said MSMEs must fulfill their responsibility as borrowers to clear their debts to assist other traders.
"We must become a responsible society. If we do not repay the loans provided, this benefit cannot be enjoyed by other Malaysians in need.
"The financing provided by Tekun not only helps develop entrepreneurs' businesses but also indirectly creates job opportunities for the surrounding community," he said in a press conference after the launch of the Tekun Madani Carnival at the Strand Mall, here, today.
Also present were Entrepreneur Development and Cooperatives Ministry's secretary-general Datuk Suriani Ahmad and Tekun chairman Datuk Abdullah Sani Abdul Hamid.
Ramanan said that as of January, the financing arrears rate was 12.66 per cent nationwide, while in Selangor, it was recorded at 21.53 per cent.
He added that Tekun had collected repayments amounting to RM7.38 billion, which was then reinvested as entrepreneurs' financing loans.
The total financing disbursed is RM9.15 billion, exceeding the allocated funds of RM4.69 billion, with RM65.3 million allocated to 4,000 entrepreneurs in Selangor.
As of January, a total of RM7.35 million in loans has been provided to 225 Tekun entrepreneurs in Selangor.
"Those who wish to expand their businesses should seize the opportunities provided to secure financing.
"Tekun channels financing up to RM100,000 for a period of up to 10 years at an interest rate of only two to four per cent, much lower than other financial institutions," he said.