Friday, May 11, 2012

Boost for sundry shop scheme

KUALA LUMPUR: The MCA will link up with its loan provider subsidiary Kojadi to promote the Sundry Shop Transformation Project (Tukar) programme among the Chinese community.

Chinese mom-and-pop shop operators still have doubts over the programme because of the lack of awareness coupled with restrictions on the sale of certain products, said the party’s young professionals bureau chief Datuk Chua Tee Yong.

Only 7% of the 519 participating outlets in the programme are Chinese-owned.
“The Government has given us RM4mil to be handled by Kojadi.

“The requirements will be the same as other agencies handling the loans, which is a 3% interest rate and a maximum 15-year repayment period,” he said at a press conference at the MCA headquarters here yesterday.

Chua added that the Automotive Workshop Modernisation Project (Atom) fared only slightly better among Chinese workshop owners, making up 22% out of the total 55 participants.

In the loans to be given out by Kojadi, participants can get up to RM80,000 in loans for the Tukar programme.

Those applying for the Atom project can get a maximum of RM100,000 and RM50,000 for car and motorcycle workshops respectively.

Kojadi chairman Datuk Ng Peng Hay also said that while the crux of the loan requirements would stay the same, certain regulations would be more relaxed under their scheme, especially on the restriction of sale of certain products.

Meanwhile, Chua said the minimum wage amount of RM1,200 proposed by Pakatan Rakyat would have a severe impact by creating more unemployment and job redundancies.

“Old investors might leave Malaysia and we may not be able to attract new ones. Because of that, there would be even more retrenchments,” he said.

Source: The Star

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