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Teraju Aims To Rope In 1,000 Bumiputera SMEs For Teras Programme

KUALA LUMPUR, July 20 (Bernama) -- Some 1,100 Bumiputera entrepreneurs are expected to be roped in by October this year for the newly launched Teras programme, an initiative undertaken by the Bumiputera development agency, Teraju, to increase Bumiputera small and medium sized enterprises (SMEs)' participation in the economy.

Teraju's Chief Executive, Husni Salleh, said both Bumiputera SMEs as well as small and micro companies will be identified for the programme based on a set of criteria and processes which would be open and transparent.

The programme for high performing Bumiputera SMEs was launched here Wednesday by Minister in the Prime Minister's Department Tan Sri Nor Mohamed Yakcop.

"The selection will be based on conditions that they do not depend on government contracts, and also have a minimum grading of three SCORE stars.

"The candidates must also have good credit standing and show the potential of becoming a profitable business and capable of expansion," Husni told reporters after the launch of the programme here.

Nor Mohamed said the programme, besides raising the participation of Bumiputeras in the economy, will also enable them to increase their capacity, growth rate and compete in the open market without the help of the government.

Teraju will chair the selection board for the programme while an independent audit firm will be appointed to monitor the entire participant selection process.

To ensure the effectiveness of the programme, an exit criteria will be identified whereby the selected company would have to reach the set target and become a major company in five years or face being dropped from the programme.


Source: Bernama