Teraju advocates programmes to boost Bumiputera entrepreneurs

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Mustapa witnesses the signing of collaboration agreements and  memorandum of understanding between Teraju and its partners, represented by Datuk Salmah Hayati Ghazali, Deputy Director General (Entrepreneurship) MARA, Datuk Husni Salleh, CEO of Teraju, Datuk Hafsah Hashim, CEO of SME Corp, Datuk Mohd Radzif Mohd Yunus, managing director of SME Bank Group and Datuk Abd Rahim Hassan, CEO of DDEC at TeraS Networking Session Teraju at Royale Chulan Damansara Hotel. Teraju has collaborated with DDEC, SME Bank and SME Corp to bring a total RM 120 million to support export-ready Bumiputera companies, entrepreneurs and youth to be more competitive both at domestic and global markets.

Mustapa witnesses the signing of collaboration agreements and memorandum of understanding between Teraju and its partners, represented by Datuk Salmah Hayati Ghazali, Deputy Director General (Entrepreneurship) MARA, Datuk Husni Salleh, CEO of Teraju, Datuk Hafsah Hashim, CEO of SME Corp, Datuk Mohd Radzif Mohd Yunus, managing director of SME Bank Group and Datuk Abd Rahim Hassan, CEO of DDEC at TeraS Networking Session Teraju at Royale Chulan Damansara Hotel. Teraju has collaborated with DDEC, SME Bank and SME Corp to bring a total RM 120 million to support export-ready Bumiputera companies, entrepreneurs and youth to be more competitive both at domestic and global markets.

KUCHING: Unit Peneraju Agenda Bumiputera (Teraju) announced its latest collaborations with Malaysia Design Development Centre (DDEC), SME Bank and SME Corporation Malaysia (SME Corp) in its fifth TeraS networking session.

According to a press release, the collaboration totalling RM 120 million, targets export-ready companies, entrepreneurs and youth, offering support in funding and capacity building to enable Bumiputera entrepreneurs to be more competitive both at domestic and global markets.

Chief executive officer (CEO) of Teraju, Datuk Husni Salleh explained, “These programmes take a holistic approach, providing opportunities and encouraging entrepreneurship from ideation up to global export-ready levels.

“In line with the Eleventh Malaysia Plan (11th MP) to raise wealth ownership and income of the B40 households, such collaboration is reflective of Teraju’s emphasis to further develop entrepreneurship capacity, encouraging participation in high-productivity, innovative, and creative economic activities.”

At the event, Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed witnessed the signing of two collaboration agreements and a memorandum of understanding between Teraju and its partners.

The collaboration agreement with SME Bank for Bumiputera SME Equity Financing Program (BASE) was signed by Husni and SME Bank Group managing director, Datuk Mohd Radzif Mohd Yunus.

Under the programme, RM100 million was allocated to SME bank to provide equity financing to credible Bumiputera SME companies. This allows the companies access to financing for equity acquisition for the purpose to take over, control and expand or diversify its company’s businesses.

For Pre-Export Capacity Building programme, Husni and DDEC CEO, Datuk Abd Rahim Hassan signed the collaboration agreement where DDEC would receive RM 10 million allocations to assist Bumiputera entrepreneurs in brand building and development activities especially in branding, packaging and labelling.

There are 20 eligible and potential export-ready Bumiputera companies/entrepreneurs in the Halal F&B industry would be identified for this programme which enables them to have better branding and packaging of quality type product as well as foreign market reach via product exportation.

Memorandum of Understanding (MoU) between Teraju and SME Corp was also inked by Husni and SME Corp CEO, Dato’ Hafsah Hashim for Program Tunas Usahawan Belia Bumiputera (TUBE) where RM10 million funds were allocated.

The programme will be implemented by SME Corp through National Blue Ocean Strategy, involving various related ministries and agencies. TUBE aims to encourage Bumiputera youth to venture entrepreneurship by providing coaching, advice and financial assistance through its Business Grant & Buddy System as well as Management Activity programme.

Among others, the programme seeks to achieve 500 Bumiputera youth participation, with at least 80 per cent youth entrepreneurs’ businesses to continue operation after the coaching session and the average annual sales of the established companies totaling to RM36,000.

The event brought together 78 TeraS companies from various sectors in three different sessions. These companies were also given an invaluable experience with Mustapa, who shared his thoughts on how the export market and 11th MP affect the Bumiputera entrepreneurs’ growth, followed by Q&A session.

TeraS Networking Session is a monthly session organised for TeraS companies of various sectors to build networking, share knowledge and be exposed to influential thought as well as industry leaders. Through this programme, these TeraS companies would be able to share the challenges and brainstorm solutions in facing the current economic environment.