Latest news with #RRamanan
The Star
5 days ago
- Business
- The Star
Govt considers increasing I-BAP allocation following overwhelming response, says Ramanan
KUALA LUMPUR, 7 Ogos -- Timbalan Menteri Pembangunan Usahawan dan Koperasi Datuk Seri R Ramanan menyampaikan ucapan pada Penyerahan Surat Tawaran Kepada Penerima I-BAP di SME Corp hari ini. --fotoBERNAMA (2025) HAK CIPTA TERPELIHARA KUALA LUMPUR: The government has decided to consider increasing the allocation for the Business Accelerator Programme for Indian-owned companies (I-BAP) to RM10mil in the upcoming Budget, following an overwhelming response since its launch in October last year, says Datuk Seri R. Ramanan. The Deputy Entrepreneur Development and Cooperatives Minister said that RM5.13mil from this year's RM6mil allocation had been approved and would be channelled to recipients. Meanwhile, the remaining RM800,000 is being processed for distribution. New applications have reached RM2mil, pushing total applications beyond RM8mil. "Based on discussions with Minister Datuk Ewon Benedick and SME Corporation Malaysia (SME Corp) chief executive Rizal Nainy, we will propose raising allocations to RM10mil in the upcoming Budget. "If applications rise to RM14mil or RM15mil next year, the government will suggest an additional allocation of RM20mil the following year," he told reporters after attending the handing-over of offer letters to I-BAP recipients here on Thursday (Aug 7), where 31 companies received grant offers ranging from RM7,000 to RM100,000. He also shared the latest proposal of raising the rate of matching grants from 50:50 to 70:30, and expanding the scope of use for the grants to include purchasing raw materials and premises rental payments. "This was suggested by Rizal and will help reduce operational costs for small entrepreneurs, giving them room to focus on growth and innovation," Ramanan said. Meanwhile, I-BAP recipient Chocofac (Malaysia) Sdn Bhd's chief executive officer (CEO) A Micheal Dass said that it was the second time his company had applied for the grants and praised the improvements made to the application process, which he described as being simpler and more inclusive. "Previously it was rather complicated; now it's very easy to apply. The aid will help us improve our product and increase sales. SME Corp has also helped us significantly, including providing shipping subsidies for cross-border business transactions," he said. Fellow recipient, MindAppz E-Tuition CEO K. Thinesh Kumar, stated that I-BAP not only helped strengthen small and medium enterprises but also had a significant impact on education technology companies that introduce artificial intelligence (AI)-based learning systems. Finally, Rizal, during his speech, shared that SME Corp would be organising SME Venture@Asean 2025 in conjunction with Malaysia being the Asean Chair, from Oct 16 to 18 at the Malaysian International Trade and Exhibition Centre (MITEC), which will be officiated by Prime Minister Datuk Seri Anwar Ibrahim. – Bernama
New Straits Times
5 days ago
- Business
- New Straits Times
Ramanan refutes 'irresponsible' claim that Mitra failed due to leadership issues
KUALA LUMPUR: Deputy Entrepreneur Development and Cooperatives Minister Datuk Seri R Ramanan has denied claims that the Malaysian Indian Community Transformation Unit (Mitra) failed because of a lack of leadership continuity. Ramanan, the former chairman of Mitra, said such accusations should not be made without understanding the facts of how the body's programmes were implemented. He said that when he chaired the Mitra Special Task Force Committee last year, a RM100 million allocation was used. "This is hilarious because the claims come from an irresponsible party. How can you say Mitra failed?" he told reporters after handing over offer letters to small Indian-owned companies here today. "Every time a programme was opened, the names of the recipients were announced. Not only were funds disbursed well, but all information was also shared. "I am sure the media also knows about it, so how can there be a claim that Mitra failed?" Ramanan said. The comments follow claims made on Tuesday by current Mitra chairman P Prabakaran, who said issues with leadership continuity were behind the perception that the organisation had failed to make a significant impact. Prabakaran added that the agency was also considered a "catch-all" organisation and was unfairly burdened with responsibilities beyond its mandate. Ramanan said he was disappointed that some people made rash statements about Mitra and linked them to the country's leadership. "You are blaming the prime minister for your failure. That is your failure. As politicians, we must think before we speak. Not once, not ten times, but a hundred times. "So I am issuing a warning, do not link the Prime Minister's Office and the prime minister's name to your failure. Not everything can be implemented immediately. "Some things take time, but the important thing is that it is implemented transparently and with integrity. If that is guaranteed, then there is no issue," he said.
New Straits Times
31-07-2025
- Business
- New Straits Times
13MP uplifts Indian community in line with Madani economic agenda
KUALA LUMPUR: The 13th Malaysia Plan (13MP) provides specific emphasis on raising the socioeconomic standards of the Indian community, in line with the Madani spirit that stresses a unified and comprehensive approach, Deputy Entrepreneur Development and Cooperatives Minister Datuk Seri R Ramanan said. The 13MP strategy was drafted to improve the quality of life and social mobility of the Indian community, especially from the low income group, through various initiatives outlined in the Malaysian Indian Blueprint and Indian Community Action Plan, while existing programmes that will be continued include the Indian Community Entrepreneur Development scheme. "13MP focuses on capacity and talent development, including in STEM, TVET fields and career opportunities, in addition to improving basic infrastructure, home repairs and housing access," he said in a statement today. Efforts are also driven by economy and social empowerment, strengthening community governance and expanding the use of artificial intelligence (AI) and digitalisation to increase programme targeting and effectiveness, he said. Programmes like the Indian Community Socioeconomic Development Programme are designed holistically to empower education, entrepreneurship and social wellbeing, he said, adding that implementation of physical development projects in Indian community villages is also being planned. Ramanan also shared that the Entrepreneur Development and Cooperatives Ministry would introduce a self supervisory system for the franchise industry to reduce bureaucracy and boost competitiveness as part of the 13MP's second focus targeting high value industries and strategic sectors. "The 13MP document was drafted in detail without neglecting the needs of target groups, including the Indian community. It contributes to the Madani Economy aspirations to raise the floor, the ceiling and strengthen governance towards sustainable economic growth," he added. The 13MP, themed "Melakar Semula Pembangunan" (Redesigning Development) was tabled by Prime Minister Datuk Seri Anwar Ibrahim at the Dewan Rakyat today.
Barnama
31-07-2025
- Business
- Barnama
13MP Uplifts Indian Community In Line With MADANI Economic Agenda
KUALA LUMPUR, July 31 (Bernama) -- The 13th Malaysia Plan (13MP) provides specific emphasis on raising the socioeconomic standards of the Indian community, in line with the MADANI spirit that stresses a unified and comprehensive approach, Deputy Entrepreneur Development and Cooperatives Minister Datuk Seri R Ramanan said. The 13MP strategy was drafted to improve the quality of life and social mobility of the Indian community, especially from the low income group, through various initiatives outlined in the Malaysian Indian Blueprint and Indian Community Action Plan, while existing programmes that will be continued include the Indian Community Entrepreneur Development scheme. '13MP focuses on capacity and talent development, including in STEM, TVET fields and career opportunities, in addition to improving basic infrastructure, home repairs and housing access,' he said in a statement today.
The Sun
31-07-2025
- Business
- The Sun
13MP boosts Indian community under MADANI economic agenda
KUALA LUMPUR: The 13th Malaysia Plan (13MP) places strong emphasis on improving the socioeconomic conditions of the Indian community, aligning with the inclusive MADANI economic framework. Deputy Entrepreneur Development and Cooperatives Minister Datuk Seri R Ramanan highlighted the plan's targeted initiatives to enhance education, entrepreneurship, and infrastructure for the community. '13MP focuses on capacity and talent development, including in STEM, TVET fields and career opportunities, in addition to improving basic infrastructure, home repairs and housing access,' Ramanan said. The plan also integrates digitalisation and AI to refine programme effectiveness. Existing schemes like the Indian Community Entrepreneur Development programme will continue, while new projects, including village infrastructure upgrades, are in the pipeline. The ministry will also introduce a self-regulatory system for the franchise industry to cut bureaucracy and enhance competitiveness. 'The 13MP document was drafted in detail without neglecting the needs of target groups, including the Indian community. It contributes to the MADANI Economy aspirations to raise the floor, the ceiling and strengthen governance towards sustainable economic growth,' he added. Tabled by Prime Minister Datuk Seri Anwar Ibrahim, the 13MP, themed 'Melakar Semula Pembangunan' (Redesigning Development), aims for holistic progress across Malaysia's diverse communities. - Bernama
