“As a property company, TERAJU’s Facilitation Fund has allowed us to go beyond our goal of just selling houses — The lower cost of financing offered through the fund has enabled us to sell houses at more affordable prices, opening the door for more Bumiputera in Sarawak to own their first homes.
We became a TeraS company about three years ago, and with TERAJU’s support, we have since sold 130 houses from projects partly financed by the Facilitation Fund with a further 200 under construction. Being a TeraS company, we are eligible to apply for financing with much lower security requirements and with TERAJU as guarantor for the facilities. This helps us reduce risk, achieve a greater success factor and build our confidence to pursue projects.
I would say that applying for the TeraS programme also encourages companies to improve their performance, as companies must show a profit record of at least three years and have a minimum 3-Star rating under SME Corp’s SCORE programme. Companies must also undergo a certain number of courses, which helps us identify and address any weaknesses. The stringent application process ensures that only companies with a performance track record are rewarded with assistance.
I believe TERAJU has been instrumental in identifying and facilitating companies that have potential, guiding Bumiputera companies to a higher platform of growth. TERAJU’s focus on SMEs also ensures companies such as ours, which drive commercial activity in Malaysia, continue to contribute to the broader economy.” Rewi Bugo, Managing Director, Petra Jaya Properties Sdn Bhd
Source: National Transformation Programme Annual Report 2014