Seremban: TEKUN Nasional has disbursed financing totalling RM36 million to about 1,500 entrepreneurs in Negeri Sembilan as of June this year. Entrepreneur Development and Cooperatives Minister Steven Sim Chee Keong stated that, at the national level, RM540 million has been disbursed to 25,600 entrepreneurs during the same period.
According to BERNAMA News Agency, TEKUN, established 30 years ago, has played a substantial role in the development of local entrepreneurs. However, Sim emphasized the need for continuous improvement in addressing any weaknesses or gaps in the delivery process, taking into account the actual experiences of entrepreneurs.
Sim has set a target to expedite decisions on TEKUN financing applications of RM100,000 and below to be issued within seven days, regardless of the approval status. For micro-financing of RM20,000 and below, the Ministry of Entrepreneur Development and Cooperatives (KUSKOP) aims to deliver decisions within 24 hours.
Recently, Sim attended a programme with TEKUN entrepreneurs in Seremban, which served as a platform for direct feedback on their experiences with applying for, receiving, and repaying financing. He highlighted that efforts to speed up the approval process must be matched by efficient fund disbursement to ensure entrepreneurs can access financing promptly.
Sim also underscored that TEKUN financing applications do not require support or endorsement from political leaders. Every application must be evaluated professionally and transparently based on the applicant's eligibility, irrespective of race, religion, or political affiliation. He stressed the importance of ending the practice of entrepreneurs seeking political endorsements for support.
The government is expanding financing access for entrepreneurs across communities, with the allocation for the Indian Community Entrepreneur Development Scheme (SPUMI) increased from RM30 million to RM50 million. The Indian Community Entrepreneur Financing Package (MUDRA) provides a total of RM220 million in financing this year.
Sim remarked that efforts to strengthen local enterprises should transcend racial considerations, as all Malaysian companies compete internationally. He concluded, "If we want to succeed internationally, we must succeed together. If we fail, we fail together."