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PUNB targets 67 auto sector businesses this year

May 17, 2012

KUALA LUMPUR: Perbadanan Usahawan Nasional Bhd (PUNB) targets to set up 67 businesses in the automotive sector this year with an allocation of RM12 million.

Chairman Khairy Jamaluddin said as of April 30 this year, 15 such companies have been set up, with financing of RM2.67 million.

“From PUNB’s observation, most Bumiputera entrepreneurs [in the automotive sector] are small-scale and have basic equipment, but if you look at the big workshops, most of the workers are

Bumiputeras, which shows they have the skills in this area,” he said in his opening speech at the Auto Forum organised by PUNB here today.

He said although most of these entrepreneurs have high technical skills, they lack the financial and marketing skills, which was why PUNB set up a special automotive unit to promote their participation in the sector.

“There has been encouraging progress, many of the operations are expanding, they have a good business model, are in a strategic location, have sophisticated equipment and are supported by the big brands like Petronas, Caltex, Goodyear and Continental,” he said.

As of April 30 this year, PUNB has set up 311 automotive businesses with RM74.53 million financing approved for some 400 entrepreneurs, and many of them are sustainable and no longer need PUNB financing, he added.

This year, he said, PUNB is allocating RM200 million to finance various Prosper schemes, and so far, RM33 million has been disbursed besides RM25 million for the Prosper Property scheme.

Response to the schemes has been good except for the Prosper Graduate scheme which needs to be rebranded as it is misconstrued as being restricted to graduates, he said.

- Bernama


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