00:00A government agency said Bumiputra companies need to go back to basics,
00:05noting that poor governance had plagued many of these enterprises,
00:09hampering their ability to secure loans for expansion.
00:12Nick Nazreen Nick Abdul Rahman of the Bumiputra Agenda Steering Unit said
00:17some companies that generate over a million ringgit in annual sales
00:21failed to secure loans because their books were all over the place.
00:25He said these companies failed to prepare financial statements properly
00:30or report their earnings to the Inland Revenue Board,
00:33noting that such tasks are fundamental to running a business.
00:37Nick Nazreen, who is Staraju's Strategic Services Division Senior Director,
00:42told FMT that only once the fundamentals are in place
00:46can these Bumiputra businesses be raised to the next level.
00:50Nick Nazreen was elaborating on his comments late last month
00:54on gauging the success of programs supporting Bumiputra enterprises,
00:58which should be based on whether the initiatives accomplish their end goals,
01:02including helping the community improve their livelihood.
01:06He said Taraju introduced three new initiatives,
01:10Ascend, Enhance, Accelerate, in February to generate real business value
01:14and prepare the companies for both national and regional markets.
01:18our new drill, FMT.
01:21Thank you for joining me on YouTube and I'm Aint the Journal of Women's
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