Today's Pick (30/07/12/136/829) ERAJU LOWERED THE THRESHOLD VALUE FOR QUALIFYING PROJECT UNDER BUMIPUTERA FACILITATION FUND FROM RM20 MILLION TO RM5 MILLION AND TERAJU ANNOUNCED A COLLABORATION WITH SME BANK TO INTRODUCE A NEW LOAN FACILITY OF RM500 MILLION FOR HIGH PERFORMING BUMIPUTERA COMPANIES UNDER TERAJU’S TERAS PROGRAMME

TERAJU LOWERED THE THRESHOLD VALUE FOR QUALIFYING PROJECT UNDER BUMIPUTERA FACILITATION FUND FROM RM20 MILLION TO RM5 MILLION

AND

TERAJU ANNOUNCED A COLLABORATION WITH SME BANK TO INTRODUCE A NEW LOAN FACILITY OF RM500 MILLION FOR HIGH PERFORMING BUMIPUTERA COMPANIES UNDER TERAJU’S TERAS PROGRAMME

Kuala Lumpur, 6^th July 2012:  Unit Peneraju Agenda Bumiputera (TERAJU) today announced the lowering of the threshold value for qualifying project under Bumiputera Facilitation Fund from RM20 million to RM5 million. The new threshold of RM5 million will be in effect immediately and it covers all Bumiputera Facilitation Funds that have been allocated to all 5 economic corridors under TERAJU@ Koridor initiative.

Speaking at a press conference here today, Minister in the Prime Minister’s Department YB Tan Sri Nor Mohamed Yakcop said that the Government has set this new threshold to enable more Bumiputera companies to qualify for Bumiputera Facilitation Fund. The fund is meant to be the catalyst for greater investments by Bumiputera companies in the National Key Economic Areas (NKEA) sectors and other high impact Bumiputera projects,” he added.

The Bumiputera Facilitation Fund is one of the initiatives in the Bumiputera Economic Transformation Roadmap launched by the Prime Minister in November 2011. The establishment of a RM2 billion Facilitation Fund is the result of joint efforts between TERAJU and the Public-Private Partnership Unit (UKAS) to be used in initiatives undertaken by Bumiputera companies that qualify, to enable their participation in Entry Point Project (EPP) initiatives.

The Bumiputera Facilitation Fund will also act as a tipping point to provide support for Bumiputera companies undertaking projects under Private Finance Initiatives (PFI). It will also be a catalyst for greater investment by Bumiputera companies to carry out business expansion project.

         

According to Tan Sri Nor Mohamed, “The Government has received feedback from the economic corridors on the need to create more enablers for more Bumiputera companies to participate in Bumi Private Finance Initiative (PFI) projects. With this new threshold, the Government expected to see greater socio-economic impact to rural industries and projects and eventually benefit more Bumiputera entrepreneurs”.

“To expedite disbursement of the Facilitation Fund, the Government has agreed to de-centralise assessment and processing of applications through a committee will be formed in each economic corridor. For this purpose, TERAJU will be working very closely with the Northern Corridor Investment Authority (NCIA), Sarawak Corridor of Renewable Energy (SCORE), Sabah Economic Development and Investment Authority (SEDIA), East Coast Economic Region Development Council (ECERDC) and, Iskandar Regional Development Authority (IRDA),” he said.

Also present at the press conference were Chairman of TERAJU, Dato’ Dr. Rahmat Bivi bt Yusoff, Chief Executive Officer of TERAJU, Encik Husni Salleh and Chief Executive Officers of the respective economic corridors.

TERAS FUND LAUNCHED

At the same event, Tan Sri Nor Mohamed announced a collaboration between TERAJU and SME Bank in the setting up of a new unique loan facility of RM500 million called TeraS Fund. This new fund is aimed at facilitating business expansion of high-performing Bumiputera companies under TERAJU’s TeraS programme.

Under the new TeraS Fund, which is open to TeraS companies that fall under the small-medium-enterprises (SME) category, SME Bank will offer a unique loan facility of up to RM20 million per company to facilitate their business expansion programmes.

TERAJU’s TeraS programme, which was launched in July 2011, aims at identifying 1,100 high performing Bumiputera companies with good potential for growth, helping them grow beyond local markets and also facilitating access to business opportunities. To date, 130 companies under TeraS programme have been chosen for their good track-record, financial standing and growth potential and after having gone through rigorous evaluation by SME Corp and received SCORE rating of 3-star to 5-star and high credit rating.

Tan Sri Nor Mohamed said that with many initiatives, funds and facilities offered by the Government through TERAJU and other agencies and institutions, more Bumiputera companies are expected to join the TeraS programme.

Source: Teraju   

Date: 27 July 2012

Today's Pick (30/07/12/136/829)