TEKUN Nasional seeks speedy debt recovery

TEKUN Nasional seeks speedy debt recovery
File picture shows Entrepreneur Development Minister Mohd Redzuan Md Yusof (centre) at a press conference at TEKUN Corporation, with Deputy Minister Dr Hatta Md Ramli (right) and TEKUN’s MD Datuk Baharom Embi, August 3, 2018. — Bernama pic

KUALA LUMPUR, Aug 7 — The National Entrepreneur Group Economic Fund (TEKUN Nasional) has taken various steps to recover the outstanding payments for its financing schemes.

“We have set up a subsidiary company, TEKUN Corporation, to recover bad debts,” said TEKUN Nasional managing director and chief executive officer Datuk Baharom Embi to Bernama when asked about the agency’s non-performing financing (NPF) recently.

Entrepreneur Development Minister Mohd Redzuan Md Yusof recently told Dewan Rakyat that TEKUN Nasional’s NPF — classified as payment arrears of six months or more — made up 37.82 per cent of its total current financing portfolios for the financial year end of Dec 31, 2017.

Meanwhile, TEKUN Nasional’s bad debts — classified as arrears of more than 24 months — totalled RM437.6 million, or 6.4 per cent of the total amount of financing.

Baharom said that ‘TekunPay’, an app launched in July last year, is one of the methods of enabling easy loan payments for entrepreneurs.

The app, downloadable via Google Play Store or Apple Store, enables account holders to securely view their detailed loan account information.

Baharom added that new borrowers are encouraged to apply for the TEMAN TEKUN Payment Scheme and TemanNita Programme Payment Scheme, where entrepreneurs are grouped (5 to a group) and each of them are required to keep to a consistent payment schedule.

Baharom said this after a briefing session in conjunction with Mohd Redzuan’s official visit to TEKUN Nasional’s headquarters last Friday. Also present was Entrepreneur Development Deputy Minister, Dr Mohd Hatta Ramli.

The visit was aimed at gaining information and current status of financing programmes tailored to Bumiputera and Indian micro-entrepreneurs. — Bernama

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