If We are Not Prudent Money Will Really Fly

I hope Bank Negara will provide stringent measures and controls for this scheme or we can surely say goodbye to this fund.

It is suggested that some guidelines like the following be required:

1. Public listed company with profitable track record overseas – for example Top Glove; maximum funding to be provided perhaps RM20 million with loans repaid by pledging 20% of receivables.

2. Public listed company with good track record locally - maximum funding to be provided perhaps RM10 million with loans repaid by pledging 20% of receivables.

I will not permit funding for unqualified companies as BN really does not have the resources to monitor them. Let the other companies work with the approved companies to expand overseas.

It is all too easy to lose money especially if it is obtained easily and we should all learn the expensive Italian business lesson ala MV Augusta.

photo: http://images.animationfactory.com/imagedir/animations/money/misc/money_flying_out_the_window/money_flying_out_the_window_lg_wm.gif