Be disciplined in settling loans, says Talib

KUCHING: Entrepreneurs and business owners should work hard and be disciplined in settling loans on schedule, Sarawak Economic Development Corporation (SEDC) chairman Datuk Talib Zulpilip said yesterday.

He said this was a core attribute of good management that would ensure prosperity of their business.

Talib gave the advice in his speech during the Trusty Borrowers Appreciation Ceremony held at SEDC Tower here.

The chairman said: "It is the priority of the government to help and provide opportunities to all in improving their way of life. SEDC is very particular in ensuring those wishing to be established in the business world would be successful."

"When you work hard for your business and service your loans, not onlv it would be good for your business, but you are increasing your credential as well. In the future, you would not have any problem in applying for further financial help."

Talib, who is also Tourism Assistant Minister, added that the discipline that one instilled in repaying one's loan on schedule in a way would influence how they run their business.

He said when there was discipline, good management would come naturally.

This was the core for running a successful business, he added.

He praised the 12 recipients of the appreciation certificate. saying that they were model entrepreneurs who should serve as example to others.

To show SEDC's appreciation for their effort. Talib made a surprise announcement declaring that he would personally sign and give them a recommendation letter which could add weight for their future loan application from any financial institution.

Talib hoped it would encourage other borrowers to repay their loan, adding that it was important for the borrowers to repay their loan as SEDC would cycle the allocation for other applicants.

SEDC general manager Dr Sulaiman Husaini said it was the corporation's responsibility to develop and help Bumiputera entrepreneurs economically.

Sulaiman said: "We must groom the entrepreneurs so that in turn, they could recommend and help other aspiring entrepreneurs. The 12 recipients today are a good start. Hopefully this will be a motivation for
others to work out their business to be successful."

Sulaiman added that the ceremony yesterday was the brainchild of Talib and SEDC was planning to make it a yearly event.

Of the 12 trusty borrowers, 10 were awarded under the Special People's Development Programme (PPRK).

The PPRK programme caters for small businesses where it only allocates between RM1,000 and RM3,000 each as a start-up capital.

For business upgrades, applicants are eligible for loans of between RN45,000 and RM10,000.

Another two received their loan under the Small and Medium Industry Loan Scheme (SPIKS).

Under the scheme, a total of between RM10,000 toRM250,000 are available for each applicant with an interest service rate of four per cent a year.

To be eligible for the SPIKS loan. an entrepreneur must have at least run his business for a minimum of one year.