PETALING JAYA: The Ministry of Entrepreneur & Cooperative Development (Medac) is optimistic that the rebranding of Perbadanan Nasional Bhd, which involves the change of acronym and logo from PNS to Pernas, will further strengthen the agency’s position as the champion of franchise industry growth in Malaysia.
Medac Minister Datuk Seri Wan Junaidi Tuanku Jaafar said the franchise industry is one of the main sectors other than cooperatives and SME entrepreneurs that have a significant impact and contributes to the growth of GDP.
“The franchise business is seen as the business model of choice for entrepreneurs seeing that franchise businesses have business systems that are easy to follow and highly effective in developing local entrepreneurs. I am confident that it will be able to achieve Medac’s target of producing 100 millionaires a year among SMEs,“ he said in a statement yesterday.
The franchise industry grew at a commendable rate with an increase in annual sales value of 17.3%, equivalent to RM13.3 billion compared to RM11 billion in 2019.
To date, a total of 1,077 franchise companies are registered, out of which, a total of 68 local franchise companies have penetrated the international market and are found in 70 countries.
Meanwhile, Pernas chairman Datuk Zakaria Mohd Edris said since 2004, Pernas has disbursed almost RM1.3 billion in funding to more than 5,500 entrepreneurs and has created more than 34,000 jobs.
“In line with the rebranding, Pernas will continue to aggressively grow more local franchise brands with the launch of two of its latest projects namely Project Xcelerator and Project ‘Be Your Own Boss’ at the beginning of the year which is set on producing five local franchise entrepreneurs and 1,000 franchisees,” he added.
Pernas and the agencies under Medac will move in tandem to support Medac’s aspiration to make entrepreneurship and cooperatives as the main agenda towards creating a conducive and inclusive entrepreneurial ecosystem.
The rebranding exercise introduces a fresh logo and modern colours that symbolise Pernas’s efforts in empowering entrepreneurs. It is one of the strategies to provide a clearer picture to the public on the role of Pernas in the franchise industry and further address the issue of brand confusion with other organisations over the years.
