KUALA LUMPUR, Aug 7 – A total of RM2.6 billion in loans needs to be recovered by the National Entrepreneurial Group Economic Fund (TEKUN Nasional) for the period from 2008 to this year.
Deputy Minister of Entrepreneur Development and Cooperatives Datuk R. Ramanan said this amount comprises the collective sum of loans due for repayment as well as new loans involving more than 100,000 borrowers over that period.
“They (the borrowers) are making the repayments. Now, when we advise them and make calls to speak with them, payments are made. However, (some of the allocated) funds are stuck.
“Therefore, if the RM2.6 billion is returned to us, we can provide more loans to other borrowers out there,” he told reporters after the “Sembang Santai Vanakam MADANI Bersama Usahawan India” programme on Tuesday.
Ramanan also announced that TEKUN Nasional borrowers with less than 50 per cent of their loan balance remaining or less than two years of repayment left are eligible to apply for a second financing.
