KUALA LUMPUR: The bumiputra portion of the RM3bil Working Capital Guarantee Scheme (WCGS) for small and medium enterprises (SMEs) has been extended 12 more months until the end of 2012 to ensure that the scheme would be fully utilised.

Minister in the Prime Minister’s Department Tan Sri Nor Mohamed Yakcob said the RM3bil, which was allocated equally for both bumiputra and non-bumiputra, had not been fully utilised by the former. “Under the scheme, RM1.5bil had been allocated for bumiputra companies but only RM300mil had been used so far,” he said at the Teras Programme launch by Unit Peneraju Agenda Bumiputra (Teraju) yesterday.

Nor Mohamed said that the RM1.5bil allocation for non-bumiputra companies had been used up.

“The Government has extended the time-frame until the end of 2012 (from end-2011 initially). The extension is to ensure that it will be fully utilised,” he said.

The scheme was first introduced in the second stimulus package in March 2009. It was fully utilised by year-end despite being topped up from RM5bil to RM7bil. However, in view of encouraging response to the scheme, the Government provided an additional RM3bil under the 10th Malaysia Plan, making it total of RM10bil.

Meanwhile, the Teras Programme is aimed at increasing bumiputra SMEs participation in the economy by enabling them to accelerate their growth and compete without heavy reliance on government contracts.

The programme is intended to develop bumiputra entrepreneurs across all 12 National Key Economic Areas. As as starting point, a total of 1,100 bumiputra SMEs would be identified using a transparent criteria, said Teraju chief executive officer Husni Salleh.

He said the first batch of SMEs that qualified for the programme would be announced within the next two to three months.