KUALA LUMPUR: Malaysia sees the potential of boosting entrepreneurship in the country and believes young Indian businesspeople could be a major source for boosting investment in the country. TEKUN Nasional announced it is increasing its funding limit to RM50,000 from the previous limit of RM30,000 in an effort aimed at increasing Indian participation in business and entrepreneurial development in Malaysia. Minister in the Prime Minister's Department G.Palanivel said that the age limit had also been increased from 45 to 55 years, “so that these entrepreneurs could expand and grow with the fund made available for them.” He added that this new conditions, approved by the Economic Planning Unit (EPU) on Thursday, would help the Indian community to uplift itself. Besides young entrepreneurs, he noted those Indians who had credit risk issues, either by means of CCRIS, CTOS or bankruptcy problems, were also able to apply for the RM30 million loan. Palanivel told reporters the new regulations after chairing a meeting with a steering committee including representatives and consultants from banks, economists and financial experts at his office on Friday.
