The Bumiputera Agenda Steering Unit (Teraju) has approved a RM1.5 billion Facilitation Fund for 432 projects as of August, 2016, says chief executive officer Husni Salleh said.

He said for Sabah, a total of RM99.35 million in funds were approved for 41 bumiputera projects, providing support to the Sabah business community to participate in a more self-sufficient and sustainable economic activities.

“The total investment value for these projects in Sabah stood at RM879.45 million,” he said in a statement.

The Facilitation Fund (Dana Mudahcara) was created as a tipping point for private investment initiatives.

Husni pointed out that SMR Aquaculture Sdn Bhd’s integrated farming project in Tawau, Sabah, namely Solar PV and Aquaphonic Farm, valued at RM48.35 million, was one of the 432 projects for which funding was approved.

“This project is partly financed by Teraju’s RM2.64 million Facilitation Fund,” he said.

Meanwhile, he said 45 bumiputera companies from the state have been identified as ‘high performing’ under the Teras Programme and 10 of these companies have been given approval for Teras Fund totalling RM9.91 million, Husni said.

- Bernama