$406M approved for Bumi-owned projects in Malaysia

A total of $406 million had been approved under the government's $597 million facilitation fund allocated since August 2011 for Bumiputera-owned infrastructure projects.

Close to$170 million was disbursed by Unit Peneraju Agenda Bumiputera (Teraju) while the other $236 million was approved by the Public Private Partnership Unit.

Teraju chief executive officer Husni Salleh said under Teraju, 100 companies had received the grant for a total of 111 projects, where the overall private investment was $1.5 billion.

Under Teraju, the grant is given to up to 15% of the overall cost of the project valued at least $1.5 million and the projects must have the components of infrastructure, machinery and/or equipment.

The maximum amount of funding given by Teraju is $8.9million.