BOSS MEET BOSS

INVITING BUSINESS OWNERS AND PROFESSIONALS  TO THE BOSS MEET.

BY INVITATION ONLY 

Planned Event :

a.   OVERSEAS TRADE DELEGATION

b.   NETWORK WITH SOME 500 BUSINESS OWNERS & PROFESSIONALS

c.   EXHIBITION BY MALAYSIAN INDIAN BUSINESS

d.   PRESENTATION ON BUSINESS OPPORTUNITIES

e.   AWARD TO SUCCESSFUL LOCAL BUSINESSMEN

f.    DINNER

CONTACT :

S. Arikrishnan 

KLANG INDIAN CHAMBER OF COMMERCE

www.klangchamber.org

email : klangchamber@gmail.com

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Banks ‘not keen’ on loans to Indian SMEs

Banks ‘not keen’ on loans to Indian SMEs

from :The Malaysia Reserve

Indian small and medium sized entrepreneurs (SMEs) are finding it tough to tap into a RM130 million Islamic financing facility that was announced by the government nine months ago.

The main reason: Perceived reluctance of Islamic banks on loans probably due to lack of a guarantee from the authorities and perceived weak credit worthiness of the applicants. As of Jan 23, 77 out of 81 applicants for the Shariah-compliant SME financing scheme (SSFS), which is channelled through the Special Secretariat for Empowerment of Indian Entrepreneurs (SEED), were rejected. Only four entrepreneurs received financing worth RM4.4 million.

SEED director Dr AT Kumararajah said the 13 Islamic banks entrusted to disburse the RM130 million special Indian business facilitation fund announced by Prime Minister Datuk Seri Mohd Najib Razak in June 2012, were “not interested” to lend the money to the community as the financial institutions were only looking at the applicants from a “business case” view.

“It's not a special fund for the Indians. The banks are not keen to lend money to Indian entrepreneurs as the money is solely under their discretion. There is no government guarantee to that money,” he told The Malaysian Reserve.

SEED, a special secretariat, which reports directly to Minister in Prime Minister’s Department Datuk Seri G Palanivel, who is also MIC president, is meant to assist the Indian business community to get access to bank loans.

On June 9, 2012, Najib announced various forms of loans worth RM180 million for the Indian community, of which RM130 million was supposed to be channelled through the SSFS, with each of the participating Islamic banks to providing RM10 million worth of loans. This is seen as one of the plans by the government to assist the Indian community.

Aside from the Islamic banks, Malaysian Industrial Development Finance (MIDF) was to provide RM10 million in SME soft loans — RM5 million under the enrichment and enhancement programme meant for business start-ups and microenterprises and RM30 million through the microfinance facility provider under the so-called Tekun Nasional scheme.

Islamic banks that were approached by The Malaysian Reserve declined to comment on the issue.

Dr Kumararajah said 95% of the applications, which went through normal credit evaluation criteria, was at a risk of rejection at the final evaluation process under the scheme.

While stressing that there is no “special treatment” for business proposals which passed through SEED, he said the only incentive in the SSFS scheme was the 2% interest rebate given by the government to the participating banks for their cost of financing. 

“We are looking for a redesigned scheme that would enable the Indian businesses being evaluated on a different basis than a standard evaluation process.

“We understand that there are a lot more that need to be restructured in order for the Indian business community to get preferential access, in terms of funding and that is what we (SEED) are doing now,” he said.

In a step to address these issues, Dr Kumararajah said SEED has prepared a comprehensive memorandum which was submitted by Palanivel to Najib, who is also the finance minister, in a Cabinet meeting last month.

In the memorandum, Dr Kumararajah said SEED has proposed to the government to provide RM130 million directly to the Indian business community which can be managed by designated institutions such as SME Corp.

SEED also wants to work with Bank Negara Malaysia to monitor from “root to tip” the performance of the banks and both the approved and rejected applications by the joint cooperation proposed under the SSFS scheme.

If the above suggestion is not taken into consideration, he said SEED will then propose to the government to come up with a guarantee scheme mechanism whereby the banks still provide the funds, with the guarantee from the government.

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DEFERMENT OF MINIMUM WAGES RULING FOR FOREIGN WORKER TO DEC 31, 2013

We wish to inform all members and associates that after several rounds of discussion by the association with the relevant authorities and department, our voice is finally heard.

The minimum wages ruling implementation for foreign workers is now being deferred to Dec 31, 2013

Kindly refer to the enclosed letter from National Wages Consultative Council of Ministry of Human Resources for details.

Thank you.

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SME Corp - MICCI MENTORING PROGRAMME

SME Corp - MICCI MENTORING PROGRAMME



Date  : 27 March 2013
Time  : 8.30a.m - 5.00p.m
Venue :Room 5, Best Western Premier Dua Sentral (8, Jalan Tun Sambathan, KL)

The mentoring programme jointly organized by MICCI and SME Corp. Malaysia, has been progressively
rolled out since April 2009. The aim of the programme is to assist SMEs in establishing best business
practices to enhance new procedures and systems that are relevant to SMEs in becoming suppliers to
multinational corporations and to facilitate building the capacities of SMEs to enable them to participate in
the global marketplace, and/or to become suppliers to internationally diverse corporations.

The Mentoring Programme supported by MNCs with focus on specific business sectors and will be tailored
to the SME needs within the unique business features of each sector. The areas of focus includes the market
expansion and new opportunities, how to overcome business risk, building own product quality and learn how the small businesses gear up for globalization.

Download Registration form at SMECORP 

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PRESS RELEASE : KICC SUPPORTS HINDRAF's ECONOMIC UPLIFTMENT REQUEST

Klang Indian Chamber of Commerce [KICC] strongly support Hindraf's call for political parties to endorse it's blueprint on upliftment of Indian community.  The request for land allocation for 20,000 Indian farmers for next 5 years could pave to contribute to the economic development of the community. If the system managed properly the nations demand for meat and milk can be met as well as contribution from agricultural activities undertaken by the farmers.

Since , 2001 the government has been playing hide and seek games on their commitment  to increase Indian Economic Equity to 3% without any concrete studies or workable master plan to achieve it despite been 12 years since first announced in parliament by then Prime Minister Dr. Mahathir Mohamed.

In order to meet the targeted 3% Economic Equity, KICC calculated that each and every Malaysian Indian  must able to invest RM80,000 in shares or unit trust. Which means, a family of 5 must able to save some RM400,000 per family above their normal savings and daily expenses. Until unless there is a concrete and workable master plan such as  Hindraf's request for lands for productive agricultural activities.

KICC President M Shanmugan, Vice President P.Peramasivam, Executive Secretary S. Arikrishnan and it's Executive Committee Member M. Puspanathan visited Hindraf Chairman P Waythamoorthy whom on hunger strike for past 11 days at Rawang. During, the visit KICC pledged cooperation to P Waythamoorthy while prayed for his well being.

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PRESS RELEASE : MAICCI SHOULD DEMAND 10% BUSINESS OPPORTUNITIES FROM GOVERNMENT AGENCIES & GOVERNMENT LINKED COMPANIES and RM500 MILLION GRANT

MAICCI SHOULD DEMAND 10% BUSINESS OPPORTUNITIES FROM GOVERNMENT AGENCIES & GOVERNMENT LINKED COMPANIES and RM500 MILLION GRANT 

We refer to the meeting between Malaysian Associated Indian Chamber of Commerce & Industry representatives with the Deputy Prime Minister on March 11th, 2013 and their 11 point memorandum. Klang Indian Chamber of Commerce is happy to note such an initiative taken by a Malaysian Associated Indian Chamber of Commerce & Industry although very much delayed.

We shall be more appreciative had MAICCI demanded at least 10% business opportunities from government agencies and government linked companies besides appointment of Malaysian Indians Directors to the Board. Such opportunities are necessary in order to uplift economically limping Malaysian Indian Community to achieve the 3% Economic Equity target set by former Prime Minister Tun Dr. Mahathir Mohamad in the year 2001.

We welcome MAICCI’s request for special financial allocation for Malaysian Indian businesses. However, such allocation should be in the form of GRANTS to assist small and medium Malaysian Indian Companies to grow further instead being dished out as loans by private commercial banks that are only bureaucratic and profit oriented. We further note that the demand by the national entity to participate in politics is NOT in line with the greater good in uplifting the Malaysian Indian community. Rather, they should look into the transformation of the Malaysian Indian businessmen into High Income individuals that will lead to create more wealth for the community.

Klang Indian Chamber of Commerce is very much concerned on how Malaysian Indians are being sidelined by NATIONAL agencies such as PERBADANAN USAHAWAN NASIONAL BERHAD (PUNB) , PETROLIAM NASIONAL BERHAD (PETRONAS), PERMODALAN NASIONAL BERHAD (PNB) , INSTITUT KEUSAHAWAN NEGARA which only cater to a specific segment of Malaysians. We Malaysian Indians want to be part of this nation. We welcome MAICCI as a national body to clarify the meaning of NATIONAL to include ALL Malaysians that is “1MALAYSIA” as our honorable Prime Minister Dato Sri Najib Tun Razak proclaims.

Thank you.
for more information kindly contact:

M . Shanmugam                           S. Arikrishnan
President                                      Executive Secretary
H/p: 0192654572                        H/p: 0166685405

Klang, March 15, 2013

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SITEX SELANGOR 2013: SCIENCE INNOVATION & TECHNOLOGY EXHIBITION

SSIC Berhad is proud to bring “SITEX Selangor 2013” (Science Innovation & Technology Exhibition), to be held from 4-6 April 2013 at the Shah Alam Convention Centre, Shah Alam, Selangor. The three (3) days exhibition will be filled with:

- A three days exhibition for a total of 124 booths

- A two days R&D commercialization seminar with invited key local and international speakers of the industry

- A national level architecture design competition for university students

- A state level eco-based product design competition for secondary schools students.

SITEX Selangor 2013 is organized to provide an appropriate platform for researchers, innovators and companies to showcase their latest products to potential buyers or investors. This trade exhibition is aimed to be avenue for marketing, networking and spur business relations among the local and international technology based entrepreneurs, innovators, and businesses. In conjunction of the exhibition, participating researchers, innovators and companies will also be able to present their products and services to the incoming visitors through taking part in the scheduled stage presentation opportunities in the exhibition hall.

The two days seminar will be tailored towards answering the key questions on how to commercialize and market R&D licenses. This seminar will be specifically targeting innovators, R&D department of universities, as well as investors looking for potential new product or services.

Apart from the business related programs, SITEX Selangor 2013 will also provide a platform for the students in the secondary and tertiary education to be involved in science, technology and innovation. In the architecture design competition, the selected university students will be presenting their designs during the exhibition, while for in the eco-based product design competition, the school student’s work will be exhibited in the exhibition for judging purposes.

SITEX Selangor 2013 is also a brand for SSIC Bhd in promoting Selangor as the nucleus for knowledge-based businesses and industries. By encouraging the growth opportunity in science, innovation and technology, it will directly promote the development and improvement in many industries as well. The many existing industries operating in the Klang Valley will be invited to visit the exhibition to find out more on the latest and new technology and innovative products and services available for them in the exhibition

More Information check out Sitex Selangor 2013 Website at : http://www.sitexselangor.com/

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FREE THE BOSS DIRECTORY

Kindly email the completed form to klangchamber at gmail dot com before 30th March 2013. First come first serve Publisher reserve right to reject any submission without assigning any reason.

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Simple Survey on Malaysia Indian Economic

Inviting all Malaysian Indian Entrepreneurs and Professionals to assist us in answering a simple survey on Malaysian Indian Economic Development as below.

START

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Malaysian Indian Chamber vs Malaysia Chinese Chamber of Commerce

As Klang Indian Chamber of Commerce Executive Secretary and one of the founder, I always encounter " What is the Benefit of Joining an Indian Chamber of Commerce ?" It's not an easy task to responding to Indian business owners.

Recently,  I realize that major different did prevail between the both .  Indian Chamber especially the National level one always bulwark Prime Minister. Check out the Star news report on March 1, 2013.

Here is a news report by the same newspaper on the same date. A National Chinese Chamber clearly define their path being non political. The Chamber further conducted survey to study on business performance and outlook of the economic for years ahead.

The question now : Do we need a Chamber of Commerce that keep pleasing the Prime Minister each an every time or do we need Chamber of Commerce to get it's members business grow and inform Prime Minister issues that may affect our economy.

Share your thoughts here or meet us at TSUNAMI EKONOMI 8th March 2013 , 7.00 pm, Klang.

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