Published: Tuesday September 18, 2012 MYT 6:46:00 PM
Updated: Wednesday September 19, 2012 MYT 12:46:14 PM
Mibo wants RM1bil in Budget for Malaysian Indians to reach 3% equity
By TASHNY SUKUMARAN
PETALING JAYA: A coalition of Malaysian-Indian businessmen have called on the Government to help the community reach the goal of 3% equity by allocating RM1bil to them in Budget 2013.
According to Malaysian Indian Business Organisation (Mibo), the Malaysian Indian community currently has 1.6% equity.
At a press conference Tuesday, Mibo said that along with the RM1bil stimulus package, it wanted amnesty for any non-performing loans that the community might have taken.
"Particularly for loans taken in 2008 under the BSN microfinance scheme," said Datuk Mohana Krishnan, president of the Malaysian Indian Entrepreneurs and Professionals Association (MIE) and co-chairman of Mibo.
"The amount is less than RM10mil, but many Indians have been blacklisted despite the amounts being small," he said.
He added that the coalition was prepared to guide the Government on how to use the RM1bil amount to efficiently aid the Malaysian Indian community.
P Sivakumar, Mibo co-chairman and National President of the Malaysian Indian Business Association (Miba) said what also was needed was help by way of enhancing business by way of education and entrepreneurship.
The coalition also called for more Malaysian Indian involvement in the public sector and government-linked companies (GLCs).
"Let GLCs and state development corporations open up to Indian contractors," said Sivakumar.
Other members of the coalition include the Malaysian Indian Contractors Association and the Indian Builders Association.