Latest news with #AmanahIkhtiarMalaysia
The Star
3 days ago
- Business
- The Star
AIM announces additional RM50mil allocation to Indian women entrepreneurs
KUALA LUMPUR: Amanah Ikhtiar Malaysia (AIM) has allocated an extra RM50mil to empower Indian women entrepreneurs through the second phase of the Prosperity Empowerment and A New Normal for Indian Women (PENN 2.0) programme. Deputy Entrepreneur Development and Cooperatives Minister Datuk Seri R. Ramanan said the additional allocation brings the total fund for the programme to RM100mil. He said PENN 2.0 was developed after the success of phase one of the PENN, which benefitted 6,247 Indian women with a total financing amount of RM42,725,640. "From the 6,247 recipients of this fund, a total of 1,062 were new entrepreneurs. Therefore, the announcement of the additional fund allocation of this RM50mil will give opportunities to more Indian women to involve themselves in business and at the same time improve their standard of living,' he said. Ramanan said this at the launching ceremony of PENN 2.0 Empowering Indian Women Entrepreneurs at the AIM headquarters here Tuesday (June 3). PENN, which was launched on April 14 last year, is a government initiative through AIM as the implementing agency to empower Indian women, especially in the field of entrepreneurship. Ramanan said AIM is targeting that over 10,000 Indian women entrepreneurs in the country would benefit from this additional fund. According to him, the target of this fund is not only for new participants but this effort will also strengthen support for existing participants to expand their small businesses in various sectors including food, tailoring, beauty and community services. "Entrepreneurs who have received PENN financing have generally succeeded in increasing their income by 20 to 30 per cent compared to before," he added. Since its establishment in 1987, AlM has disbursed over RM35.9bil to Malaysians (especially women), in its ongoing efforts to liberate the poor and low-income groups from poverty. - Bernama
The Sun
3 days ago
- Business
- The Sun
AIM announces additional RM50 million fund allocation to Indian women entrepreneurs
KUALA LUMPUR: Amanah Ikhtiar Malaysia (AIM) has allocated an extra RM50 million to empower Indian women entrepreneurs through the second phase of the Prosperity Empowerment and A New Normal for Indian Women (PENN 2.0) programme. Deputy Entrepreneur Development and Cooperatives Minister Datuk Seri R. Ramanan said the additional allocation brings the total fund for the programme to RM100 million. He said PENN 2.0 was developed after the success of phase one of the PENN, which benefitted 6,247 Indian women with a total financing amount of RM42,725,640. 'From the 6,247 recipients of this fund, a total of 1,062 were new entrepreneurs. Therefore, the announcement of the additional fund allocation of this RM50 million will give opportunities to more Indian women to involve themselves in business and at the same time improve their standard of living,' he said. Ramanan said this at the launching ceremony of PENN 2.0 Empowering Indian Women Entrepreneurs at the AIM headquarters here today. PENN, which was launched on April 14 last year, is a government initiative through AIM as the implementing agency to empower Indian women, especially in the field of entrepreneurship. Ramanan said AIM is aiming that over 10,000 Indian women entrepreneurs in the country would benefit from this additional fund. According to him, the target of this fund is not only for new participants but this effort will also strengthen support for existing participants to expand their small businesses in various sectors including food, tailoring, beauty and community services. 'Entrepreneurs who have received PENN financing have generally succeeded in increasing their income by 20 to 30 per cent compared to before,' he added. Since its establishment in 1987, AlM has disbursed over RM35.9 billion to Malaysians (especially women), in its ongoing efforts to liberate the poor and low-income groups from poverty.
The Sun
3 days ago
- Business
- The Sun
RM50m fund allocation to Indian women entrepreneurs
KUALA LUMPUR: Amanah Ikhtiar Malaysia (AIM) has allocated an extra RM50 million to empower Indian women entrepreneurs through the second phase of the Prosperity Empowerment and A New Normal for Indian Women (PENN 2.0) programme. Deputy Entrepreneur Development and Cooperatives Minister Datuk Seri R. Ramanan said the additional allocation brings the total fund for the programme to RM100 million. He said PENN 2.0 was developed after the success of phase one of the PENN, which benefitted 6,247 Indian women with a total financing amount of RM42,725,640. 'From the 6,247 recipients of this fund, a total of 1,062 were new entrepreneurs. Therefore, the announcement of the additional fund allocation of this RM50 million will give opportunities to more Indian women to involve themselves in business and at the same time improve their standard of living,' he said. Ramanan said this at the launching ceremony of PENN 2.0 Empowering Indian Women Entrepreneurs at the AIM headquarters here today. PENN, which was launched on April 14 last year, is a government initiative through AIM as the implementing agency to empower Indian women, especially in the field of entrepreneurship. Ramanan said AIM is aiming that over 10,000 Indian women entrepreneurs in the country would benefit from this additional fund. According to him, the target of this fund is not only for new participants but this effort will also strengthen support for existing participants to expand their small businesses in various sectors including food, tailoring, beauty and community services. 'Entrepreneurs who have received PENN financing have generally succeeded in increasing their income by 20 to 30 per cent compared to before,' he added. Since its establishment in 1987, AlM has disbursed over RM35.9 billion to Malaysians (especially women), in its ongoing efforts to liberate the poor and low-income groups from poverty.
![[UPDATED] 'PM will decide on cabinet appointments when time is right'](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fimages%2Farticles%2FDatuk_Seri_R._Ramanan-240525_1748930457.jpg&w=3840&q=100)
![[UPDATED] 'PM will decide on cabinet appointments when time is right'](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fassets%2FNST-Logo%402x.png%3Fid%3Db37a17055cb1ffea01f5&w=48&q=75){kind=small}
New Straits Times
3 days ago
- Politics
- New Straits Times
[UPDATED] 'PM will decide on cabinet appointments when time is right'
SUNGAI BULOH: Deputy Entrepreneur Development and Cooperatives Minister Datuk Seri R. Ramanan has called on everyone to stop putting pressure on Prime Minister Datuk Seri Anwar Ibrahim over cabinet appointments. His remarks follow the resignations of Nik Nazmi Nik Ahmad and Datuk Seri Rafizi Ramli from the cabinet after their losses in the recent PKR party polls, leaving two ministerial posts vacant. "The appointment of ministers is the prerogative of the prime minister. "He will make the decision when the time is right and when he deems it appropriate, based on the circumstances at that time," he said after the laucnh of PENN 2.0 at Amanah Ikhtiar Malaysia headquarters here. Ramanan, who recently won a vice-president seat in PKR, said it was important to give Anwar space to make the best decisions for the country without undue pressure. He has given his assurance that he would continue fighting for the community, regardless of his position. "Whether I'm a minister or deputy minister is not important. As long as I'm active in politics, I will fight for all Malaysians, especially the Indian community, which has often been left behind. "These programmes and initiatives (under the Entrepreneur Development and Cooperatives Ministry) have shown results, and I don't believe they will be discontinued. "If anyone tries to cancel them, they will likely face strong backlash from the community," he said. On new PKR membership applications, Ramanan said there should be no rush or premature assumptions. He said the application process must go through proper channels and vetting procedures as outlined by the party. "There is no pressure from Umno, and PKR secretary-general Fuziah Salleh said no applications have been officially received. "So, let the process run its course. Every application, whether from an ordinary member or a prominent figure, goes through the same screening. "We don't need to force any decision. When the time comes, the leadership will decide accordingly," he said. Ramanan added that anyone joining the party must add value to its political capital, regardless of their background or position.
New Straits Times
3 days ago
- Business
- New Straits Times
Fund to empower Indian women entrepreneurs doubled to RM100mil
SUNGAI BULOH: The government has doubled the allocation for the Prosperity, Empowerment and A New Normal for Indian Women (PENN) programme to RM100 million, which aims to assist Indian women in building their businesses. Deputy Entrepreneur Development and Cooperatives Minister Datuk Seri R. Ramanan said the additional RM50 million would empower more Indian women through entrepreneurship. "This initiative has proven that the PENN programme is not only successful but is truly needed by the community," he said during the launch of PENN 2.0 at Amanah Ikhtiar Malaysia (AIM) headquarters in Bandar Sri Damansara. Launched in April last year, PENN has benefited 6,247 Indian women, with a total of RM42.7 million in funding disbursed, including support for 1,062 new entrepreneurs. Ramanan also praised the resilience of Indian women entrepreneurs, describing them as hardworking, disciplined and determined. The fresh allocation is expected to reach over 10,000 Indian women entrepreneurs through AIM. "This injection will boost support for recipients to expand their small businesses in sectors such as food, tailoring, beauty and community services." Ramanan said AIM beneficiaries under PENN have reported income growth of 20 to 30 per cent. Its 2024 non-performing loan rate was just 0.02 per cent, the lowest in the institution's 38-year history. "This is not merely a loan, it is a tool to elevate families and transform lives." Ramanan added that PENN offers micro-financing without financial statements, guarantors or collateral, alongside continuous mentorship by AIM. He said under PENN, interested applicants can apply for a loan starting from RM3,000 up to RM30,000. "The loan cost can go up to RM30,000 even if there are issues like bankruptcy, CTOS or CCRIS, so it is open to all. "It is meant to assist the underprivileged, especially those who have nowhere else to turn to," he said. Indian women entrepreneurs who are interested in the programme are encouraged to visit the AIM website or any AIM branch to apply and benefit from the support available. Last year, Ramanan announced an RM50 million AIM fund to support Indian women entrepreneurs through PENN.
