“What the Indians in business were hoping” PM Sir – MIBA President

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Kuala Lumpur (May,20) The Malaysian Indian Business Association has handed over recently an Economic & Business Masterplan (2012 to 2020)  to PM Najib’s special officer Dato Ravin Ponniah to be handed over to the PM

MIBA President pointed out to Ravin that the PM’s announcement of RM 100 million in the 10th MP to the Indian community was later realised that it was Anamah Ikhtiar Malaysia Funds  that was asked to be kept aside for the Indian women development

The RM 100 million loan fund through AIM will only benefit  Malaysian Indian women whose numbers are small  and their nature of business is micro and the informal sectors

Even so  there is  very little information on the application process

It was felt that in order to achieve some success AIM should initiate joint mega nationwide awareness campaigns in  smaller towns and districts .

What the Indians in business were hoping  PM Najib is to continue funding a bigger amount say  RM 100 million fund through Tekun and Bank Simpanan National (BSN)  for the Indian entrepreneurs as start up and expansion capital  for the micro and informal  sectors

MIBA also urges BSN which has been quite fair in its lending to all communities to take in more non-Malay staff  especially in the front desks and as credit officers to widen the success rate in lending to all communities

MIBA is not asking the government to place money into our laps and say do business as we understand that money must be earned  but we want the Government is to ease the structural factors which inhibit the Indian economic enhancement  in Malaysia

The delivery system should open up all licences and permits to all regardless of race and work closely with all the business stakeholders  and not continue to be selective partnership with only some elite groups and therefore continue to miss the real impact at the grassroots

MIBA on its part is set to intensify efforts to move the Indians in business to the next level from just document of demands to an action plan with a 5 point list on its Agenda as follows;

  1. Establishing a data on Indian business
  2. Building Capacity for Wealth Creation
  3. Establishment of a banking or financial Institution
  4. Establishment of a dedicated mechanism for economic empowerment
  5. Strengthen coordination and networking