BANGI: The Bumiputera financing fund under the National Entrepreneurial Group Economic Fund (Tekun Nasional) has been increased from RM500 million to RM1 billion.
Entrepreneur and Cooperatives Development Minister Steven Sim said the government decided to double the amount following an encouraging response to the scheme, which had previously been raised from RM300 million to RM500 million.
“This is part of the PowerUp 10K initiative by the ministry to boost Malaysian businesses. We want more funding injections into the micro, small and medium enterprises (MSMEs) sector and Tekun Nasional, which are among the key agencies under the ministry,” he said.