Latest news with #P.Prabakaran
The Sun
6 days ago
- Business
- The Sun
MITRA endorses 45 applications for PPSMI grant worth RM40 mln
PUTRAJAYA: The Malaysian Indian Community Transformation Unit (MITRA) committee has endorsed 45 applications under the first phase of the 2025 Socioeconomic Development Grant for the Malaysian Indian Community (PPSMI). The applications are currently being processed for approval at the Prime Minister's Office. MITRA Special Task Force Committee chairman P. Prabakaran said all 45 applications, totalling RM40 million, aim to implement activities that directly contribute to enhancing the socioeconomic status of the Indian community. 'MITRA received over 1,332 applications for PPSMI between Dec 2, 2024, and Jan 5. Out of this number, 1,073 applications were rejected for failing to meet the mandatory criteria, while the remaining applications are still under evaluation for subsequent approval phases,' he said in today's press conference on the status of PPSMI 2025 held here. Prabakaran said that reasons for rejection included incomplete application forms, applicants submitting multiple applications under different organisations, individuals declared bankrupt, and organisations lacking the capacity or experience to carry out the proposed programmes. 'MITRA appreciates the patience and cooperation of all applicants, as this process involves three stages of evaluation conducted transparently and with full integrity,' he said, adding that the outcome of the PPSMI applications will be announced by June 30 at the latest.
Barnama
17-05-2025
- Business
- Barnama
MITRA To Empower Indian Community Through Investment Programme
BUTTERWORTH, May 17 (Bernama) -- The Malaysian Indian Transformation Unit (MITRA), in collaboration with Bursa Malaysia, is organising the Malaysian Indian Investment Program (MIIP) 2024/2025, or Investment Training Programme, as an initiative to empower the Indian community, especially youth, in investment and the stock market. MITRA Special Task Force Committee chairman P. Prabakaran said that in today's digital era, the organisation of such a programme was vital as it served as the sole platform to raise investment literacy among the Indian community, ultimately helping to improve the socio-economic level of the Indian community in equity holdings through stock investments. He noted that statistics indicated only about three per cent of the Indian community was actively involved in investment, which was a small number, and efforts needed to be made to increase the percentage. 'One of the main reasons for the low participation is the negative perception of the investment world, which is often associated with scams, as well as past unpleasant experiences with investment companies that failed to deliver results after training sessions. 'Therefore, MIIP presents itself as a legitimate and quality solution through direct collaboration with Bursa Malaysia, offering comprehensive guidance and training,' he told reporters after attending the northern zone leg of the programme here today, which was also attended by MITRA director-general G. Prabagaran. Prabakaran said that through the training programme, youths would be able to equip themselves with investment skills, gain exposure to the mechanisms of the stock market, and identify suitable investment strategies based on their financial goals. With guidance from investment experts, he said participants would also gain knowledge and build confidence when engaging in stock investment or pursuing careers in finance and investment. He said MIIP was divided into three levels, with 500 participants at Level One (Beginner), 300 at Level Two (Intermediate), and 150 at Level Three (Advanced). He added that the programme was held by zone, namely the Central Zone in Kuala Lumpur, the Northern Zone in Penang, and the Southern Zone in Johor Bahru, while participants at Level Three would also be offered job placements in the financial investment sector.
