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RM15mil loan for young Indian M’sian entrepreneurs

KUALA LUMPUR, 24 July 2009: The government, through the Economic Planning Unit (EPU) and Tekun Nasional (Tekun), has approved a RM15 million loan for Indian Malaysian youths to expand their businesses this year.

MIC President Datuk Seri S.Samy Vellu said the move showed the Barisan Nasional’s (BN) commitment towards catering the needs of the Indian community and that the BN never neglected any race in this country.

“With this business loan from the government, we want to establish more young entrepreneurs among the Indian [Malasian] youths. This loan will help the Indian [Malaysian] community in achieving 3% equity by the year 2015,” he said at the cheque presentation ceremony for the Indian Young Entrepreneur Development Scheme at Wisma Tun Sambanthan here today.

A total of 93 entrepreneurs received loans amounting to RM761,000 at the ceremony. He said the Tekun business loan was promoted and coordinated by the Strategic Social Foundation under the MIC, which was established in 1998 to improve the socio-economy of the Indian Malaysian community.

Later, when asked on his endorsement for incumbent deputy president Datuk G Palanivel to defend the party’s No. 2 post at the MIC elections on 12 Sept, he said as a party leader, the action was necessary as he needed someone he could work with.

Asked on the MIC offer to provide RM3.2 million to get back the land in Kampung Buah Pala, Bukit Gelugor from the developer to enable the residents to continue living in the village, Samy Vellu said: “It was just a suggestion, but we want to know why Pakatan Rakyat did not fulfill their promises made during the election on 8 Marlast year to solve the problem faced by the residents there.”

The Kampung Buah Pala land controversy came about when the villagers were ordered to vacate the land before 3 Aug following the sale of the 2.6ha land by the previous state government to Koperasi Pegawai Kerajaan Pulau Pinang Bhd, which then appointed Nusmetro Ventures (P) Sdn Bhd to develop the land. — Bernama

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2 Responses to “RM15mil loan for young Indian M’sian entrepreneurs”

  1. Gopal Raj Kumar says:

    So at the end of the day after all the bluster and puffery, Hindraf has relegated itself to an ‘also ran’ flash in the pan in the politics of Malaysia.

    Samy Vellu is back in the driver’s seat whether you like it or not. That’s politics and that’s life.

  2. gugudoll says:

    MIC spend RM3.2mil? How and why…[Indian] Malaysians will answer you!

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