RM150mil Mara loans for Bumi entrepreneurs next year

(Bernama) – KUALA LUMPUR: Majlis Amanah Rakyat (Mara) has allocated RM150mil to be given out as loans to bumiputera entrepreneurs nationwide next year, said its chairman Datuk Seri Idris Jusoh.

He said the loans were for all kinds of small entrepreneurship except agriculture, adding that preference would be given to those in retail business.

“On the average, each borrower will get about RM50,000. The allocation (of RM150mil) is actually small but it is dependent upon the repayments from loans we have received. If there is more, we will add to the sum,” he told reporters after launching the rebranding of the Medan Selera Rakyat at Medan Mara, here.

However, he said, each loan applicant would have to fulfil certain criteria, including passing a psychometric test to determine their level of entrepreneurship.

Idris also said that the collection of rental from the 356 tenants at Medan Mara had reached 97 percent as of the end of this year, indicating a transformation in the attitude of the Mara officers entrusted with the collection and the awareness of the traders in paying up.

On the rebranding of Medan Selera Rakyat, Idris said it was aimed at making the place more attractive, comfortable, clean and relaxing.

The renovation of Medan Selera Rakyat, carrying the theme “Green Peace”, was completed on Dec 17 at a cost of RM190,000. – Bernama