How Tekun Nasional, ministry have helped businesses overcome crisis, grow
Three entrepreneurs share how the agency’s financing and guidance has helped them overcome challenges and continue operations.
The Tekun Online Application System, launched on August 7, enables businesses to apply for financing entirely online, with approvals as quick as within 24 hours. Former Malaysian Armed Forces captain Norisham Kadmin recounted his business struggles in the batik industry, facing fires, floods and the Covid-19 pandemic. In 2023, Tekun Nasional provided RM100,000 in financing to keep his company afloat.
Tekun, an agency under the entrepreneur development and cooperatives ministry, offers microfinancing and development support to entrepreneurs. Two other entrepreneurs, R Samanan and Neuronworks International Serantau Bhd CEO Rizal Rashid, also credited Tekun for helping them overcome challenges. Samanan secured a RM50,000 financing loan from Tekun ten years ago, which helped him expand his automotive workshop.
Rashid, who received RM50,000 and later RM100,000 in financing from Tekun, used the funds to establish a training facility and expand his company. All three entrepreneurs welcomed recent reforms by Kuskop under minister Steven Sim, which have improved access to financing for business owners, with the Tekun Online Application System now allowing for faster approval times and online applications.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- How Tekun Nasional, ministry have helped businesses overcome crisis, grow freemalaysiatoday.com
