29,136 entrepreneurs from the Indian community benefited from SPUMI with an allocation of RM458 million

KUALA LUMPUR: Under the National Business Group Economic Fund (TEKUN), a total of 29,136 Indian community entrepreneurs have benefited from the Indian Community Entrepreneur Development Scheme (SPUMI) involving an allocation of RM458 million.

The Deputy Minister of Entrepreneur Development and Cooperatives, Datuk R Ramanan, said it was the number recorded since the scheme was implemented in 2008 until last May 31.

“From that amount, for the period from January 2024 to 31 May 2024, TEKUN Nasional has channeled funding amounting to RM17.9 million to 835 entrepreneurs in the Indian community.

“For the year 2024, funding amounting to RM30 million under the 2024 Budget has been allocated to TEKUN Nasional
for the implementation of this SPUMI program,” he said.

He said so in a written answer in Parliament answering questions
Kesavan Subramaniam (PH-Sungai Siput) who asked the Ministry of Entrepreneurship and Cooperative Development (KUSKOP) to state the amount of allocations that have been allocated for the socio-economic development of the Indian community under SPUMI and PENN as well as details of the number of participants who received the loan until May 2024.

Ramanan said in an effort to further empower the entrepreneurs of the Indian community, KUSKOP through TEKUN Nasional has also provided funding for SPUMI GOES BIG amounting to RM30 million using the agency’s internal funds in April 2024.

He said for the Indian Women’s Empowerment Special Fund (PENN) program under Amanah Ikhtiar Malaysia (AIM), from January 1, 2024 to May 31, 2024, AIM has released funding amounting to RM10.85 million to a total of 1,347 Indian Entrepreneur Friends.

“Through the PENN program that uses AIM’s special fund of RM50 million, a total of 7,100 new Indian Entrepreneur Friends are targeted to receive PENN funding with a total funding of up to RM30,000,” he said.