PUNB to increase Bumi financing to RM250 million
Published on: Tuesday, April 18, 2023
By: Bernama
Izwan said the amount allocated was for the whole country, including Sabah and Sarawak.
Kuala Lumpur: Perbadanan Usahawan Nasional Bhd (PUNB) plans to increase its business financing this year to RM250 million from RM189 million previously after examining and reviewing the needs of local entrepreneurs.Its chief executive Izwan Zainuddin said the financing would not be limited to any specific industry and would be open to all Bumiputera entrepreneurs.ADVERTISEMENT
“Our financing is open to all and is not limited to any segment or focus only on international or local sectors.
“This is because we do not want a situation where the financing is fully utilised in the event an entrepreneur has the opportunity to venture into overseas markets,” he told the media after the press conference to announce the upcoming opening of the Meet Bros Steakhouse here.
Izwan said it was only after obtaining feedback from Bumiputera entrepreneurs on their needs that PUNB decided to increase the amount of financing.
He said the amount allocated was for the whole country, including Sabah and Sarawak.ADVERTISEMENT
“Only after we went down to the ground we found entrepreneurs needed to stock up because all this while, they are selling fast-moving goods, and there is a need to restock.
“Sometimes, there are also situations where suppliers require down payments. While the suppliers used to ask for between 20-30 per cent of the total amount, this has risen up to 50 per cent. This is why entrepreneurs need financing,” he added.
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Meanwhile, Palace Butcher Resources Sdn Bhd has partnered with Serai Group Sdn Bhd to open a halal steakhouse, Meet Bros Steakhouse in Paddington, Central London, offering a unique combination of Asian and Western cuisines.
The restaurant is set to open its doors to the public after its grand opening ceremony officiated by Raja Permaisuri Agong Tunku Azizah Aminah Maimunah Iskandariah on May 12, 2023.
The Palace Butcher Resources and the Serai Group are two home-grown food and beverage (F&B) Bumiputera companies operating well-known restaurant chains, Me’nate Steak Hub and Jibby & Co.
Their international venture is being aided by the Perbadanan Usahawan Nasional Bhd (PUNB) which provides them with financial and developmental support.
PUNB chief executive officer Izwan Zainuddin said the international partnership represents a significant milestone in their efforts to be part of Malaysia’s success story.
“At PUNB, we want to see our entrepreneurs grow even further. Alhamdulillah (all praise due to Allah), the two companies have collaborated to open their first outlet in London,” he said to reporters during a press conference to announce the upcoming opening of the Meet Bros Steakhouse here.
He said PUNB is committed to the strategic development of Bumiputera entrepreneurs in retail and distributive trade, both locally as well as abroad.
To empower PUNB entrepreneur partners at the international level, PUNB has undertaken several initiatives, including conducting trade missions to London and Wales, United Kingdom (UK); Lahore, Pakistan; Taipei, Taiwan; as well as Cape Town and Johannesburg in South Africa.
“We will continue to help our entrepreneur partners develop their businesses internationally, according to market opportunities and suitability,” he added.
Meanwhile, Palace Butcher Resources chief executive officer and director, Syed Ashraf Syed Ali said the restaurant marked the company’s first international venture, adding that the company also plans to expand its business in the UK and subsequently venture into other countries such as Pakistan and Vietnam.
The Meet Bros Steakhouse is located within a short distance from the London Paddington Railway Station and the London Tube Station.
“We will offer halal prime cut meats that we source directly from the farm,” said Serai Group managing director Najib Hamid.
Palace Butcher Resources started its operation in 2015 and currently has 13 Me’nate outlets nationwide, including several outlets in the Klang Valley, Johor, Melaka, Penang, Perak, Negeri Sembilan and Kelantan.
Meanwhile, the Serai Group was incorporated in 1990, and currently has 17 F&B outlets in Klang Valley and Selangor.
The brands under the group are Serai, Serai Thai, Jibby & Co, Jibby Chow, Jibby East, Jibby by the Park, Blonde, Chum Chum Pizzeria, Lola and Serai Café.
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