YPPKM approves 1,200 micro-credit applications from hawkers, petty traders

PUTRAJAYA: The 1Malaysia Hawkers and Petty Traders Foundation (YPPKM) has approved about 1,200 of the 1,800 applications for loans under its micro-credit scheme.
Minister of Plantation Industries and Commodities Datuk Seri Mah Siew Keong said the scheme provided more opportunities and a business platform for new start-ups to venture into small businesses.
"We want more hawkers and petty traders to try to expand and transform their business innovatively. We can always start small, but think big, for better financial growth," he told reporters after attending the Creative Business Contest and MyHawkers Foodie Snap prize giving ceremony here last night.
He said the micro-credit scheme had received RM30 million and RM20 million respectively from the Budgets 2015 and 2016, and likely another RM20 million for next year.
Mah said most applicants were interested in setting up a rice or noodle hawker stall, telephone accessories shop and hair salons.
Meanwhile, a business development manager has set her dream of running her own "Do It Yourself" (DIY) business in five years, after her idea won the first prize at the Creative Business Contest.
Lee Hoi Sin, 31, from Perak, said she also aims to provide DIY equipment and rental services under one roof, and at the same time encourage consumers to be "hands on" in respect of creativity.
She said the DIY concept enables consumers to save on the cost of purchasing tools and equipment, while continuing their DIY passion.
Lee's idea was chosen as the best of the 500 proposals submitted for the Creative Business Contest, which ran from Sept 15-Oct 31.
It was organised by the Development Unit of the Hawkers, Petty Traders and Penang Hindu Endowment Board.
Mah handed over a RM3,000 cheque to Lee and other winners at the prize giving ceremony. — Bernama