DUBS: How much allocated for Bumiputera community in Sarawak?

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KUCHING: Sarawak Chamber of Bumiputera Entrepreneurs (DUBS) wants the federal government to specify how much the Sarawak Bumiputera community will get from the Budget 2020 allocations for Bumiputera businesses.

Its president Datu Abang Helmi Ikhwan said DUBS has noted the budget allocations for Bumiputera businesses was rather small and insufficient when compared to allocations given by the previous government.

“Moreover, the figures given are for the whole country, so it is difficult to know the actual allocations for Sarawak Bumiputera SMEs (small and medium enterprises),” he said.

Having said that, he called on DUBS members as well as the rest of the Bumiputera business community to be aware of what is available to them under Budget 2020.

He said there was a sum of RM445 million allocated for Bumiputera SMEs, apparently to be disbursed through Permodalan Usahawan National Bhd (PUNB), SME Corp, National Entrepreneurial Group Economic Fund (Tekun), SME Bank and a small amount under Bumiputera Agenda Steering Unit (TERAJU).

“We have yet to find out how much of the RM445 million would be allocated for Sarawak SMEs,” he asserted.

He also pointed out there was also a sum of RM300 million provided to support Bumiputera SMEs in the country; potentially to help them become regional players.

“A worthy provision to note is a ceiling increase from RM200,000 to RM300,000 per company for market development expenses.

“There is also a ceiling increase from RM15,000 to RM25,000 per participant in export promotion programs.

“We welcome that SMEs are granted concessionary tax rate of 17 per cent for chargeable incomes of up to RM 600,000,” he said.