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RM2.5 Billion Invested To Increase Bumiputera Equity Ownership

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KUALA LUMPUR: Ekuiti Nasional Bhd or EKUINAS has so far invested RM2.5 billion in potential growth-stage companies to increase Bumiputera corporate equity ownership.

EKUINAS, which was set up in 2010 to promote sustainable Bumiputera economic participation, invested in the oil and gas, services and health care sectors, among others, according to the Economic Report 2015/2016.

To strengthen Bumiputera participation in the entrepreneurship ecosystem, Unit Peneraju Agenda Bumiputera or TERAJU was introduced which draws up programmes that encourage innovative and creative business ideas from startup companies.

The programmes include the Bumiputera Entreprenurs’ Startup Scheme (SUPERB) competition with grants of up to RM500,000 for the winners.

Since 2013, SUPERB has awarded RM30 million to 60 winners who have operated for less than three years.

TERAJU, through the Malaysian Design Development Centre, has spent RM10 million since June 2015 on a pre-export programme for high-performing Bumiputera companies to help them penetrate the international market.

As of June 2015, RM9.1 million has been spent to help Small and Medium Enterprises expand their businesses and be globally competitive.

To develop Bumiputera human capital, emphasis continues to be given to providing education loans for further studies in both local and overseas institutions, with RM1.9 billion spent as of August 2015.

Apart from that, RM28.4 million has been spent up to August 2015 for the Skim Prihatin Pendidikan 1Malaysia, benefiting 4,522 students pursuing undergraduate or masters degrees.

To increase the number of certified Bumiputera accountants from 8 per cent in 2014 to 25 per cent by 2020, the Centre of Professional Accountancy was launched with the cooperation of the Malaysian Institute of Accountants which saw the enrollment of 330 students in various professional accounting programmes.

— BERNAMA

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