New Bumiputra education fund available next year

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New Bumiputra education fund available next year

New Bumiputra education fund available next year

Saturday, November 26, 2011
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Tan Sri Syed Mokhtar's Al-Bukhary Foundation one of the donors.

KUALA LUMPUR: The Yayasan Peneraju Pendidikan Bumiputera targets to build a RM500 million fund within five years.


Prime Minister Datuk Seri Najib Razak announced the setting up of the education trust fund with a RM30 million endowment from the government and contributions from the private sector.


"To-date, the trust fund has received a pledge of RM158 million from 21 companies and institutions," he said at the launch of the Bumiputera Economic Transformation: A Roadmap document here today.


The trust fund, under the second focus of the roadmap, would start operations early next year.


Najib said the fund aimed to fund 12,000 Bumiputeras within five years to pursue their education in order to raise their skills, knowledge and work experience.


The focus will be on training and developing professionals in high-pay and great potential sectors.


"The sectors which possess high demand and difficult to penetrate, like the technical sector, will also be given priority," said Najib.


Among those injecting RM10 million each are CIMB Group Holdings, Felda Holdings, Maybank, Management Science University, University of Nottingham, Kumpulan Sapura, Sime Darby, Telekom Malaysia, UEM Group and Yayasan Al-Bukhary.


Najib said the first one-stop centre in the Northern Corridor Economic Region would start operations in the first quarter of 2012.


"With this, local entrepreneurs would get the necessary assistance without going to the various agencies," he said.


He said the divestment of investment by government-linked companies in non-core sectors could create business opportunities for Bumiputera firms.


At the same function, Najib said 30 Bumiputera companies had been picked for the TERAS programme where the government would identify opportunities from the available projects to be awarded to them.