June 19, 2024

New Malaysia Times

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TEKUN Nasional COVID Business Recovery Scheme attracts 7,681 SMEs


KUALA LUMPUR, April 17 — TEKUN Nasional has so far received 7,681 applications for the COVID Business Recovery Financing Scheme (CBRM) from entrepreneurs, especially small and medium-sized enterprises (SMEs) affected by the COVID-19 pandemic.

Entrepreneur Development and Cooperatives Minister Datuk Seri Wan Junaidi Tuanku Jaafar said the agency had facilitated the application for the loans, initially by using Google Form and by email.

Effective yesterday, an online application system had also been created whereby entrepreneurs could apply for the scheme by filling up a form at http://fas.tekun.gov.my/cbrm/, he said in a statement today.

Wan Junaidi was responding to allegations of overly restrictive conditions imposed on COVID-19 affected SMEs that made it difficult for them to apply for the special assistance facility.

On April 6, Prime Minister Tan Sri Muhyiddin Yassin announced the RM10 billion Additional Prihatin SME Economic Stimulus Package. This includes RM200 million in soft loans for micro enterprises to be provided through TEKUN Nasional with a maximum loan limit of RM10,000 for each enterprise at zero interest rate.

Wan Junaidi said an applicant only needed to include minimal documents — a signed declaration form and latest one-month bank statement, copy of applicant’s and spouse’s MyKad, Companies Commission of Malaysia/local authorities business licence or other official documents as proof of business, and a copy of the applicant’s utility bill.

He cited several reasons for the delay in approving applications, such as application document not included, incomplete information on the application form, and multiple applications (the applicant submitting his application more than once).

Another reason, he said, was the Movement Control Order which restricted the mobility for TEKUN Nasional staff to come to the branch offices, as applicants must sign an agreement after their applications had been approved.

For more information, applicants can visit TEKUN Nasional’s website at www.tekun.gov.mu or call 03-9059 8888.

“I welcome comments and suggestions from all parties and I hope that the CBRM will help ease the burden of our micro entrepreneurs and further boost the nation’s economy,” Wan Junaidi said.