The Bumiputra Manufacturers and Services Industry Association of Malaysia (PPIPBM) said banks stand to gain more from helping small- and medium-sized enterprise (SME) debtors turn around their businesses than from punishing them.
PPIPBM president Datuk Raja Nong Chik Raja Zainal said helping the companies, through special loan packages or grants, will ensure that banks get their returns.
Speaking at the association’s annual general meeting in Kuala Lumpur, Raja Nong Chik estimates that more than half of Bumiputera SMEs face problems in dealing with banks.
Science, Technology and Innovation Minister Datuk Dr Jamaludin Mohd Jarjissaid the ministry plans to combine all existing funds allocated for entrepreneurs into two funds under the Ninth Malaysia plan.
“There are too many funds right now that confuse people. By limiting them to two, they will be more organised to enable us to monitor them better and address the issues faced by the SMEs,” he said...
