KOTA KINABALU, March 6 — The Bumiputera Agenda Steering Unit (Peneraju) is allocating RM45 million under its Facilitation Fund (FF) this year to help Bumiputera companies in Sabah expand their business and boost the local economy.
Its Senior Director of Entrepreneurship and Business Development Megat Mohd Yatim Megat Hamid said Teraju had approved RM139 million under the fund for 55 investment projects worth RM1.04 billion for the benefit of 52 Bumiputera companies in Sabah for the past five years.
He said until January this year, Teraju had approved RM1.7 billion under the FF initiative for 486 investment projects throughout the country.
The total investment value of the projects, which amounted to RM13.82 billion, had created more than 42,000 jobs, he told reporters when visiting Kotamas Oil Sdn Bhd, an FF recipient, at the Kota Kinabalu Industrial Park here today.
The FF initiative provides up to 15 per cent of the total cost of infrastructure components and equipment of the eligible companies, he said, adding that it was also an investment catalyst for Bumiputera companies undertaking high-impact projects.
“Peneraju hopes Sabah’s companies apply for the fund as an incentive to expand their business or increase their investment in large-capacity projects,” he said.
On Kotamas Oil, he said the company received RM1.16 million under the fund in October last year to transport fuel to Petronas’ petrol stations in Sabah.
Kotamas Oil Director of Operations Bahar Rustan said the fund enabled the company to acquire 18 tankers to fulfill its contract with Petronas Dagangan Bhd until 2019.
Set up in 1992, the company recently expanded its services to Limbang, Sarawak. — Bernama
