Yayasan Peneraju, Teraju, And Ekuinas Collaborate To Develop Entrepreneurs From Talent Level, Startup To Large Company
20 August 2024 – KUALA LUMPUR: The Bumiputera Agenda Steering Unit (TERAJU), Yayasan Peneraju (YP), and Ekuiti Nasional Berhad (Ekuinas) will play specific roles within the Bumiputera entrepreneurship ecosystem following the realignment of these three Bumiputera-mandated agencies under the Ministry of Economy’s supervision. Economy Minister Rafizi Ramli stated that YP will focus on talent development to elevate the Bumiputera value-creating class, while TERAJU will act as a super-scaler to drive growth and expand Bumiputera companies to higher and more competitive levels globally.
Ekuinas, he added, will continue to drive wealth creation and Bumiputera economic participation through corporate equity ownership. All three agencies have been given targets to be achieved by 2030 as a result of this realignment. “YP must prepare 10,000 Bumiputera talents ready to compete and become industry players, while TERAJU is targeted to provide RM1 billion in financing facilities through collaborations with the private sector and develop and enhance the capabilities of 1,000 companies.
“Ekuinas will support more Bumiputera entrepreneur companies with excellent performance and profitability. Through a fund amounting to RM800 million, Ekuinas will invest to support the growth of these companies, ensuring they continue to grow and achieve greater success in the market,” Rafizi said during the Bumiputera Value Creation Scaling Ceremony in Cyberjaya today.
More than 500 people attended the event, including representatives from Bumiputera businesses of all sizes, corporate executives, government-linked companies, and government agencies. Meanwhile, Rafizi noted that the realignment of strategies and implementation for TERAJU, YP, and Ekuinas was carried out after considering feedback from various stakeholders through engagement sessions conducted earlier this year.
He stated that this realignment initiative was also undertaken following the Mid-Term Review of the 12th Malaysia Plan (RMKe-12), which outlined strategies to strengthen the role of Bumiputera-mandated agencies in delivering the Bumiputera agenda. “Close cooperation between government-linked companies (GLCs) and government-linked investment companies (GLICs) as well as government agencies can contribute to Bumiputera economic growth.
“However, smart collaboration between the public and private sectors is expected to form a more cohesive, comprehensive, and efficient Bumiputera entrepreneurship ecosystem towards more equitable Bumiputera economic development,” he explained.
Meanwhile, YP CEO Ibrahim Sani said that Yayasan Peneraju acts as a talent bank to identify, develop, nurture, manage, and channel Bumiputera talents through three categories: professional leaders, business leaders, and community leaders.
“The goal is to develop a class of Bumiputera value creators. These Bumiputera talents will then have the opportunity to be integrated into the TERAJU and Ekuinas ecosystems,” he explained. TERAJU CEO Junady Nawawi stated that TERAJU acts as a super-scaler in catalyzing the growth of Bumiputera enterprises from the startup to the mid-level stage, emphasizing capacity building, competitive strengthening, and scaling in new high-potential sectors.
“This effort will be implemented through more effective approaches such as reciprocal collaborations, direct management buyouts, and mergers and acquisitions supported by financing and facilitation programs.
“Financing programs include debt financing and equity financing, while facilitation programs will focus on the Bumiputera Corporate Depository as well as consulting and advisory services. “With this, Bumiputera enterprises will be scaled up to be embraced by Ekuinas for further development to the next level,” he said.
Explaining Ekuinas’ role, its CEO, Datuk Syed Yasir Arafat Syed Abd Kadir, said that Ekuinas will continue to drive the growth of mid-level leading Bumiputera companies through its existing private equity investment model. Additionally, he mentioned that Ekuinas will introduce a new investment program called Private Credit, a direct lending scheme, to complement the PE investment program and provide a more complete financing spectrum.
“This new investment program will provide the necessary support to enhance the capability and competitiveness of Bumiputera enterprises at the national and international levels.
“Ekuinas will also introduce Dana Asas II, a continuation of Dana Asas launched in March 2023 to empower mid-level Bumiputera enterprises. “Dana Asas II will also be able to support qualified companies nurtured by TERAJU to scale to higher levels,” he said.
Source: Wilayah.com.my