KUCHING, May 6: The initiatives to establish a commercial bank to assist small and medium enterprises (SMEs) and its own airline is crucial for Sarawak’s economic development, says political analyst Dato Peter Minos.
In a statement today, Minos said the recent announcement by Premier of Sarawak Datuk Patinggi Tan Sri Abang Johari Tun Openg that Sarawak will have its own commercial bank is very much welcome by SME players.
According to him, the key reason is that many SMEs have difficulty in getting their business capital from ordinary commercial banks, especially when not having the full and necessary collateral.
“The red tape and bureaucracy in dealing with banks is also a put off. If a small businessman badly needs to start or expand his business with RM100,000 urgently, he is in no mood for excessive red tape or getting full collateral of land or properties. It is tough also getting a guarantor.
“This is where the proposed SME bank comes in, operating with minimum bureaucracy as well as insistence of full and solid collateral, together with speedy and expeditious loan approval,” he said.
Regarding the proposed of Sarawak boutique airline, Minos said that it is a welcome initiative.
He added if the Sarawak government has the budget for it, there is no reason why it should not be implemented as it would benefit Sarawakians. — DayakDaily
