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Human Resources Minister Dr S.Subramaniam proposed yet another fund for estate workers, this time for housing. Earlier, he talked about setting up retirement fund. This new fund is for those who have worked for more than 10 years to help purchase their own homes upon retirement. This is similar to the Felda scheme, where the employer would set aside RM100 monthly for each employee. This can avoid housing problems faced by those retiring. But looking at current increasing house prices, it may need RM200 per month to build a substantial amount.

Let’s see how many plantations will take up this suggestion. Perhaps the government can start the ball rolling by donating RM15 billion, which comes to about RM10,000 for each worker. Hmmm, that sounds like too much. How about RM15 million, which is RM1000 per worker?

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Today, Star reported that TEKUN has allocated RM3 million for young Indians (reproduced at the end).

The Government has allocated RM3 mil to provide financial aid to young Indian entrepreneurs, MIC president Datuk Seri S. Samy Vellu said.

He said that assistance would be channelled through Tekun Nasional, a body under the Ministry of Entrepreneur Development and Cooperatives and the MIC-owned Social Strategic Foundation (YSS).

On 4th June this year, Samy Vellu mentioned that TEKUN had allocated RM3 million as well. Is it the same RM3 million? At that time only 10 out of 300 students from INSKEN had applied for it.

If we go back to 3rd March this year, RM3 million is part of a special allocation by Economic Planning Unit, Prime Minister’s department. This RM3 million had been used as a revolving micro loan fund with Yayasan Tekun. I didn’t say that, Samy Vellu did.

In December 2007, Samy says this: “the Government provided business-training programs to Indian youths through the National Entrepreneur Skills institute while RM3mil has been allocated for business loans for Indians through the Tekun foundation”.

The RM3 million was first mentioned in July 2007 - “The government will also provide a special loan fund totalling RM3 million through Yayasan Tekun for 500 Indian youths to obtain micro business loans”. Yup, by Samy Vellu.

Hmmm…that’s quite a number of “RM3 millions”. Hope they are not the same. If not, it is the same RM3 million being rerun for last one year. But if not many applied, then it doesn’t make much difference does it?

According to TEKUN head Abdul Rahim, Tekun, which was set up in 1998, has already disbursed RM90 mil to bumiputras to develop their business and was expanding it to provide assistance to the Indian youths. He said a decision of the applications would be made within 14 days if all the documents were in order, compared to the previous period of three months.

Tekun would request additional allocation from the government if the RM3 mil allocation was inadequate.

The rest of the articles as follows:

Speaking to reporters after a briefing by Tekun managing director Datuk Abdul Rahim Hassan here Thursday, he said loans of RM10,000 each had been approved for three applications to develop their businesses so far.Samy Vellu said Indians below 40 should use the opportunity to seek the financial assistance from Tekun to upgrade their businesses.

“No one should come and say that the government has not done anything for the Indian community. There are opportunities available,” he said.

Samy Vellu said the MIC and YSS would also organise workshops in the respective states to disseminate the information on Tekun to the youths over the next two months.

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I calculated RM98.7 million based on the numbers mentioned by Samy Vellu. Since 1984 till 2009 (26 years). That’s about RM3.796 million per year. Number of Tamil schools is 523.

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