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‘Umno owes Tekun RM1b’

 | October 8, 2013

This is following the Tekun CEO’s admission that the financing scheme was set up for Umno and gives priority to Umno applicants.

PETALING JAYA: Umno owes almost RM1 billion in unpaid loans to Tabung Ekonomi Kumpulan Usaha Niaga (Tekun), after its CEO revealed that the national financing scheme was formed for members of the Malay ruling party, PKR claimed today.

“Tekun has loaned out RM2.42 billion to 273,173 businessmen. RM1.6 billion of the funds came from the federal government. Since [Tekun]’s formation in 1998 up until today, only RM1.43 billion was paid back,” PKR communications director Fahmi Fadzil said in a statement today.

“Considering the statement by Tekun CEO (Abdul Rahim Hassan), this is a serious implication as 40.9% or almost RM1 billion, that was loaned out to Umno members in general have not been paid back.

“This means, on average, more than RM650 million of the rakyat’s money loaned out to Umno members through a fund set up by the federal government has not been repaid,” said Fahmi.

Yesterday, Abdul Rahim said that Tekun, a government financing scheme that provides loans for bumiputera entrepreneurs, had been set up to help Umno members.

However, he denied claims that financing scheme rejected all loan applications from non-Umno members.

“We have a right to defend [Tekun] because it was the party’s brainchild. But this does not mean we completely ignore other applications.

“As long as the applications are bumiputeras, we accept it, but priority of course goes to Umno members,” Abdul Rahim admitted at a press conference yesterday.

Fahmi said today that since priority was given to Umno, then “logically” Umno members should also be given priority to repay the RM1billion in unpaid loans to Tekun.

“Hence, I suggest that Tekun and its CEO open a counter during the Umno elections this coming Oct 19,” said Fahmi.

He also questioned whether Tekun had achieved its aim in helping Malays in the economic sector, given the amount of Bantuan Rakyat 1Malaysia (BR1M) cash vouchers doled out to underpivileged Malaysians.

“The micro-credit system was created to help the economic situation of the lower income group. Yet we are reminded that the number of BR1M recipients in 2012 was 3.74 million people, whereas 3.99 million people received BR1M 2.1 in 2013.

“So the question is, has Tekun failed to help the Malays’ economic situation. And if it has, why?” he asked.


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