Posts Tagged ‘Funds’

Olaichuvadi Blogger Satish needs help for operation

June 5th, 2008
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If you notice my Links list on the sidebar, there’s a link to Olaichuvadi, a blog in Tamil. The blogger, Mr.Satish got involved in an accident in Johor few days back. His blog has a donation appeal in Tamil, while MakkalVoice and Raajarox also carry the appeal with details of the donation procedure.

He had undergone operation at Kluang Specialist Centre after a serious accident. The operation cost Rm7000 and he needs help to pay the bills and to continue treatment. To donate, bank in to:

Name : Satish Kumar
Account No : 108114004851
Bank : Maybank

For any info pls contact Ms. Saras at 012-7162884

only 5 percent SME loans approved

June 5th, 2008
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Wow! if RM479.2 million is just 5%, then the total loan approved is about RM9.584 billion! Perhaps the parties concerned should provide more statistics such as number of applicants, total value of application, reasons for rejection etc. To say that just 5% approved is very bad. Does it mean lack of applications from the normal Malaysian SME businesses?

RM479.2 million/217 = average RM2.2 million per enterprise


 

THE SME Bank has approved loans, totalling RM479.2 milion, to 217 non-Bumiputera small- and medium-sized enterprises up to April. Deputy Entrepreneurial Development and Cooperative Minister Datuk Saifuddin Abdullah said the amount, however, accounted for only five per cent of the bank’s total loans to SMEs.

Saifuddin, in his reply to Senator Datuk Wong Siong Hwee, said SME Bank had been a pioneer in providing financial assistance to small and medium businesses since October 2005. He said his ministry was also helping the bank to iron out several issues which were causing delays in approving loans. » Read more: only 5 percent SME loans approved

MIC Saravanan asks for PSD scholarship quota

June 4th, 2008
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Before I go into Saravanan’s proposal, lets look at the statistics – only 34 Indians got the scholarship first, before being increased to 78. There are 180 appeals pending.

Now, why would PSD want to provide quota for the Indian community? Then, others like the Orang Asli, Kadazan, Bajau, Baba Nyonya, etc. will start demanding their part from the “bumiputra” category. This will erode the portion and break up the quota further, and may deprive more Malays of their previously easily obtained scholarships.

Secondly, there should some basis for asking 250 places for the community. Is there any proof that we have 250 top achievers year after year that should be getting scholarship? Is 250 derived from some sort of formula based on Einstenian calculation?

However I agree that interview component of the scholarship award is highly subjective and may be subject to manipulation.

Instead of asking for quota, Saravanan should ask for transparency, a well represented board of interviewers, an increase in scholarship amount or a more stringent criteria.


KUALA LUMPUR: The government must not lump Indians in the non-Bumiputera category, but fix the number of Public Service Department (PSD) scholarships for the community, MIC information chief Datuk M. Saravanan said yesterday.
He said under the present system, of the 2,000 PSD scholarships awarded annually, 55 per cent was allocated for Bumiputeras and the remaining 45 per cent for non-Bumiputeras.”Out of the 900 PSD scholarships for non-Bumiputeras, Indians initially received only 34, which was then increased to 70. We are now awaiting the results of about 180 appeal cases.”The Indians are already backward in terms of education, but yet we have to compete with all the other non-Bumis. The government should allocate, on an annual basis, 250 PSD scholarships for Indians,” Saravanan, who is also Federal Territories Deputy Minister, said.

“The current selection system is also flawed. The exam results constitute 70 per cent of the eligibility marks for the PSD scholarships. The rest is made up of the interview and such, which is very subjective.
“The people want transparency. If a student is the best, then he or she must be eligible for the scholarship. Now, we have students who have scored excellent marks but turned down by the PSD on the pretext that they failed in the interview.

“That half-an-hour interview decides a student’s fate. It might have taken students five years or more to obtain excellent results. Is that fair? It is not a level playing field.” – Bernama

source

Giat Mara and Insken Indian grads urged to apply TEKUN loan

June 4th, 2008
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Its a bad statistic indeed if only 10 out of 300 students (3.3%) applied for the loan scheme. What could be the reasons?

– not interested?

– don’t know how/where/when/why?

– loan rules too strict/rigid?

MIC can’t be faulted here unless they did not provide awareness or proper information to the students.

RM3 million / 300 students is averaging  RM10000 per graduate, which is quite a substantial amount to start small business like food stall or similar business that require less capital and investment in machineries/tools.


Only 10 of the 300 Indian students who graduated from the Giat Mara centres and National Entrepreneurship Institute (Insken) last year have applied for business loans under the Young Indian Entrepreneurs Loan Scheme run by Tekun Foundation, says MIC President Datuk Seri S. Samy Vellu.
He urged the remaining 290 students to apply for the loan from Tekun or the National Foundation for Economic Fund Group under the Entrepreneur and Cooperative Development Ministry.

“Yayasan Tekun has allocated RM3 million to be disbursed as business loans for graduates of Pusat Giat Mara and Insken,” he said in a statement today.

He said the Tekun Foundation decided to issue business loans to Indian students from Giat Mara centres and Insken following discussions between the foundation and the Social Strategic Foundation (YSS), MICs social arm, last year.

Samy Vellu said although the Tekun Foundation was meant for Bumiputera entrepreneurs, its management decided to open its business loans for Indians through the help of the then Entrepreneur Development Minister Datuk Seri Mohamed Nazri Abdul Aziz.
He said qualified Indians engaged in small-and medium-scale businesses can apply for the loan to start or to sustain and expand their businesses, ranging from small cottage to modern technological industries, food, agriculture, manufacturing and handicraft for domestic and foreign markets.

Enterprising young Indian entrepreneurs can contact YSS at Level 5, Menara Manickavasagam, at No 1, Jalan Rahmat, 50350 Kuala Lumpur, telephone (03) 4041-5958 or Fax (03) 4041-5681.

source

NLFCS willing to transfer land for Tamil Schools sake

June 3rd, 2008
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I guess NLFCS is taking the first step to aid in conversion of partially-aided schools to full-aided status. Other plantation owners should follow suit. With the rising price of palm oil and rubber, surely a bit of corporate social responsibility is in order. Once converted, the government cannot simply wash its hands off these schools.

But why does it take NLFCS such a long time to come to this decision? Surprising that an Indian based cooperative was unable to do so earlier. Rather than spending RM5 million all this while, it could have given the land to government and helped out in other ways.


THE National Land Finance Cooperative Society (NLFCS) is willing to give land to eight Tamil schools if the Government fully supports the schools.

Tamil Nesan quoted its executive director Tan Sri K.R. Somasundram as saying that the board of directors had agreed to a proposal to transfer the land to the schools for the sake of the children’s education.

He said that currently the Government was only giving partial aid to Tamil schools as many were situated on private land.

He said it was the expectation of the Indian community that Tamil schools be fully-aided schools to enable the pupils to study in a conducive environment.

He said NLFCS had spent nearly RM5mil to maintain schools under its supervision.

source