800 Millionaires-in-the-Making

Of the 22,000 registered entrepreneurs in Terengganu, about 800 of them are millionaires-in-the-making.

State rural development, entrepreneur, cooperatives and consumerism committee chairman Roslee Daud said the potential millionaires would be given all the support and guidance to continue to excel in their businesses.

“A lot depends on their initiative to succeed as the state government is prepared to give its full backing in whatever ventures they are involved in.

“These include food and beverage, handicraft, hospitality, manufacturing, plantation, tourism and the like,” said Roslee, adding that RM250 million in grants had been disbursed to the entrepreneurs to kick-start their businesses.

Among the criteria to become millionaire entrepreneurs are for them to generate an annual nett income of RM1 million consistently for several years.

“They have to submit their audited annual financial returns and provide proof of the annual nett income and assets owned.

“They should also be able to minimise their liabilities and overheads,” Roslee said after closing a workshop for 33 government agencies, organised by the Terengganu Entrepreneur Development Secretariat Council at Permai Hotel.

He said 794 new entrepreneurs had emerged in last year alone, of which 147 of them were of a high prestige.

Roslee added that once entrepreneurs had earned the millionaire billing locally, they should not just rest on their laurels but strive to offer their products and services to the competitive overseas market.

On another note, Roslee said the T-Mart (or Terengganu Mart) would begin operations at its RM400,000 facility in Kampung Baru, Kuala Lumpur from May 1.

“The T-Mart is an expansion of the T-Shop, thereby, progressing as a convenience shop to a mini-market that offers low prices for its goods.

“We are working with the Armed Forces stores of Perwira Niaga Malaysia to help distribute T-Mart products via its nationwide network,” said Roslee.

Source: New Straits Times Online