Datuk Seri Najib Razak said the “smart partnership” would help Teraju better develop Bumiputera companies, 88 per cent of which were micro-enterprises.
“The turnover of these companies can be raised to a higher level if given help,” he told reporters attending a Bumiputera Agenda Action Council (MTAB) meeting here.
Najib also said the number of companies identified by Teraju under its Teras programme will be increased from 30 to 80, with a combined revenue of some RM5 billion.
The Teras initiative aims at identify 1,100 top Bumiputera enterprises most likely to grow in the next five years and help them take on 131 entry-point projects (EPP) worth RM1.4 trillion under the government’s Economic Transformation Programme (ETP).
“The concept is not that we will promise every one of these companies will get a contract from the government,” Najib reiterated.
“It’ll focus on building the management, technical, financial capabilities of these companies and helping these companies innovate and come up with better business plans.”
He also announced that Raja Azura Raja Mahayuddin, a trained accountant, has been chosen to head Yayasan Peneraju Pendidikan Bumiputera (YPPB), Teraju’s education fund.
The fund was launched in November last year to build Bumiputera human capital by helping 12,000 students from the community improve their qualifications and better their skill set.
YPPB aims to have collect RM500 million in contributions over the next five years, with 21 Bumiputera companies having pledged RM158 million thus far.
