Tekun entrepreneurs have until year-end to make arrears repayment, says Ramanan

BANGI: All borrowers of the National Entrepreneurial Group Economic Fund (Tekun Nasional) have until the end of this year to make repayment of funding arrears, says Deputy Entrepreneur Development and Cooperatives Minister Datuk R. Ramanan.

Speaking to reporters after attending the Tekun 2024 Aidilfitri gathering here on Monday (April 22), Ramanan said that the extension of the repayment period was given after taking into account that entrepreneurs who are still struggling to rebuild their businesses which were adversely affected by the Covid-19 pandemic that hit the country in 2020.

“Indeed, every day some (borrowers) come forward to make repayment, but we have to give them more time, as they are still trying hard.

“This year we also aim to reduce the number of non-paying borrowers to single digits,” he said.

Ramanan also expressed his confidence in the leadership of Tekun Nasional chairman, Datuk Abdullah Sani Abdul Hamid, to ensure that the agenda of reducing the number of defaulting borrowers in Tekun Nasional financing to single digits will be a success.

On March 2, Ramanan reportedly said that a total of 137,520 Tekun Nasional borrowers had arrears of financing for more than six months, amounting to RM1.1bil, as of January this year.

Regarding the number of Tekun funding applications for this year, Ramanan said that about 30,000 applications have been received, as of this month.

“I got this information from Abdullah Sani (about the number of applications). I hope more entrepreneurs will apply,” he said.

During the presentation of Budget 2024 in October last year, Prime Minister, Datuk Seri Anwar Ibrahim, reportedly announced an allocation of RM330mil to Tekun Nasional, while on April 3, 2024, Ramanan reportedly announced additional funds, of RM30mil, to be used by Indian entrepreneurs, under the Indian Community Entrepreneur Development Financing Empowerment Scheme (Spumi Goes Big).

Ramanan said that the additional funds saw the total allocation received by Tekun Nasional at RM360mil for this year, and hoped that the agency would always be on the right track in providing financing facilities to entrepreneurs. – BK