PENANG – General public are urged to be aware that the 1Malaysia Micro Credit & Free Insurance scheme for small-scale businessmen and petty traders has never appointed any middleman or agent to process application for loans under the scheme.
Penang Gerakan Secretary Oh Tong Keong said someone is going around in town spreading words that middlemen or agents can help aspiring applicants to fill up the forms and get processed for a fee or commission.
“Public are reminded that there is no such thing as middlemen or agents on this matter and don’t fall into the scam for convenience sake.”
Oh said the Penang Gerakan Headquarters at Jalan Macalister is the only place entrusted by the relevant authority to help the public to apply for the small scale loans. Those interested can make enquiry and get the application processed at the Penang Gerakan Headquarters.
During a ceremony to sign the loan agreements on Monday, Oh said some mischievous persons were also spreading words that the loans are meant mainly for Malays or bumiputeras.
Oh said this particular loan scheme is formulated for Chinese small-scale businessmen and the application procedure is simpler than applying loans from commercial banks. But the applicants must be registered with Companies Commission of Malaysia (SSM).
He said successful applicants would be covered with premium-free insurance, and in the event of death, the next of kin need not have to service the loans anymore.
The procedure to register with SSM is also very simple as the applicant just needs to submit the relevant form with the payment of initial registration fee of RM60, subject to annual renewal of RM30.
He urged those interested to respond & apply for it and also help to spread the news to friends and relatives.
He disclosed that until today about RM 2 million had been disbursed to successful applicants and the amount is expected to reach RM 8 million by end of this year.
Currently, about 90 applications are being processed by Penang Gerakan Headquarters, of which 49 have been approved. Six applications were rejected because of insufficient documents, while the rest are being verified before approval.
Oh added, “Even though Gerakan is now in the opposition, the spirit to serve the people remains high, because we still endeavour to help resolve problems faced by the people.
“We will continue to voice the opinions and grievances of the people, to monitor the performances and policies implemented by the incumbent State Government to ensure that they will not abuse the mandate given by the people for their own self-interest, or carry out any policies detrimental to the interest of the people.”
He reminded the people that for two political fronts to work well, there should not be a scenario of hegemonic politics. A check and balance system will ensure a fair and just implementation of policies beneficial to the people.