KOTA KINABALU: Local entrepreneurs here have been told to overcome negative mindset as well as to stop relying on political support in order to get loans for their businesses.
International Trade and Industry Minister Darell Leiking said the attitude of some entrepreneurs who are quick to judge and view themselves as not eligible to apply for loan, has to stop if they want their businesses to grow.
He said such attitude has resulted in Sabah getting left behind and missing out from opportunities in the distribution of loans offered to the industrial sector through the Malaysia Industrial Development Finance Berhad (MIDF).
Referring to statistics, he said since MIDF was established 50 years ago, loan disbursement in the state was only RM768 million involving 764 companies, out of a staggering RM14.5 billion in loans for 10,818 companies granted by MIDF throughout the country during that period.
“In Sabah, maybe there is lack of exposure on the loan opportunities offered by MIDF.
“However such existing opportunities are not being utilised because of our negative attitude with the mindset of ‘ah tidak dapat bah tu’ (it’s impossible to get that loan) or ‘saya tidak layak’ (I’m not eligible).
“So, we need to stop such mindsets and start thinking ‘I’m able to get it’. If we are still unable to get the loan after applying for it, then we need to ask MIDF ‘why am I not eligible’,” said the Penampang Member of Parliament to reporters.
He earlier addressed some 200 entrepreneurs and local industry players at the launch of the Industrial Revolution 4.0 and Automation Seminar, here, today, organised by MIDF.
At the same time, he said some entrepreneurs previously also depended on political support to gain loans, but stressed such culture would not be practiced in the new government.
“We want our entrepreneurs to submit their applications based on their eligibility and we hope the total of companies and loans offered by MIDF for this state can be increased twofold from the current amount,” he said.
In relation to that, Darell reminded that the industrial community in the state needed to work together to make Sabah a competitive economic bloc, which included an end to the practise of labelling themselves as representing only certain ethnic communities. © New Straits Times Press (M) Bhd