RM200 million Agrofood Financing Fund launched
Published on: Sat, Aug 02, 2025 Text Size: Arthur witnessing the exchange of strategic cooperation agreement documents between Agrobank represented by Agrobank Group Chief Operating Officer, Zahid Ahmad Zawawi (right), and TM One represented by TM One's Vice President of Enterprise Business, Megawati Norhashim (second, left). Kota Kinabalu: The Agrofood Financing Fund (DPA) 2025, involving RM200 million, was launched Friday with Agrobank appointed as the implementing agency to further strengthen Malaysia's agrofood sector. Deputy Minister of Agriculture and Food Security Datuk Seri Arthur Joseph Kurup said the fund is designed to enhance national food security and support the long-term sustainability of the country's agricultural and agrofood industries by providing financing facilities to agro-entrepreneurs. 'This programme aims to support entrepreneurs involved in agricultural and agrofood production, covering activities across the entire value chain — from upstream to downstream — including support services. I believe this will greatly benefit grassroots-level entrepreneurs. 'The fund provides financing for both fixed capital, such as asset acquisition and development costs, and working capital, to meet the operational needs of agro-industry players,' he told reporters after launching the fund in conjunction with the National Farmers, Stockbreeders and Fishermen's Day 2025, here, Friday. Also present were the Ministry of Agriculture and Food Security Secretary-General Datuk Seri Isham Ishak, Agrobank Chairman Datuk Yunos Abd Ghani and Agrobank Group President/Chief Executive Officer Datuk Tengku Ahmad Badli Shah Raja Hussin. Arthur said Agrobank will carefully assess each application to determine eligibility, based on pre-established conditions and project scopes. 'At this stage, we do not yet have the number of recipients, as Agrobank will first evaluate all submitted applications. Only then will we determine who qualifies and how many applicants are eligible for the fund,' he said. The DPA fund offers financing ranging from RM50,000 to RM5 million for eligible agro-entrepreneurs, with a profit rate of three per cent per annum. Meanwhile, Arthur said Agrobank and TM One have entered into a strategic collaboration to enhance the bank's digital infrastructure. The partnership aims to improve the efficiency and reliability of Agrobank's financial services, including ATMs, CDMs and online banking, through improved internet connectivity and digital solutions. 'This is a strategic move to accelerate Agrobank's digitalisation and provide a more seamless customer experience, especially for rural communities and farmers who rely on its services,' Arthur said. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available.
Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
2 hours ago
- The Sun
Malaysia approves RM11.62 bln in furniture projects as of March 2025
KUALA LUMPUR: A total of 1,533 furniture projects worth RM11.62 billion have been approved as of March this year, according to Deputy Minister of Investment, Trade and Industry Liew Chin Tong. He revealed that 62% of these investments were domestic, while 38% came from foreign sources. The government continues to support the industry through the Market Development Grant (MDG), administered by MATRADE. Eligible companies receive RM25,000 for overseas trade promotions and RM5,000 for local events. Liew noted that 314 furniture firms have benefited from the MDG, with 4,148 applications approved—the highest among all sectors. 'From January 2021 to July 2025, MDG-assisted furniture companies generated RM1.46 billion in export sales,' he said during a Dewan Rakyat session. The grants disbursed to the sector total RM12.25 million. Addressing concerns about foreign competition, Liew stated that while Malaysia imposes no restrictions on furniture sector investments, MIDA will no longer actively encourage foreign participation, particularly in labour-intensive projects. 'Malaysia's furniture industry is already globally competitive, and we aim to prioritise local growth,' he added. - Bernama
The Sun
2 hours ago
- The Sun
Urban biodiversity investments boost economy and community well-being
KUALA LUMPUR: Investment in urban biodiversity delivers economic gains while fostering environmental sustainability and improving community well-being, said Deputy Prime Minister Datuk Seri Fadillah Yusof. He emphasised that sustainable urban development creates cleaner, greener spaces, elevating residents' quality of life and attracting investors and tourists. 'Urban biodiversity investments aren't just about financial returns. They benefit the environment and, ultimately, the people—cleaner air being one key outcome,' Fadillah told reporters after closing the Urban Biodiversity Conference (UBC) 2025 at Sime Darby Convention Centre. He noted that expanding green spaces and parks in cities aligns with sustainable development goals, enhancing social well-being. The conference, attended by Selangor's Raja Muda Tengku Amir Shah Sultan Sharafuddin Idris Shah, promoted biodiversity integration in urban planning. Fadillah, also Minister of Energy Transition and Water Transformation, highlighted that eco-friendly developments increase property values. 'People pay more for homes in greener, healthier environments. This boosts returns for investors,' he added. Organised by Sime Darby Property, UBC 2025's theme, *'Coexistence: Shared Environments for Balance and Resilience'*, underscored cross-sector collaboration for sustainable urban growth. Earlier, Fadillah witnessed the signing of a five-year Urban Biodiversity Agreement between Sime Darby Property and the Tropical Rainforest Conservation and Research Centre (TRCRC) to advance conservation efforts in Bandar Elmina. - Bernama
Borneo Post
3 hours ago
- Borneo Post
Two businessmen remanded over RM800,000 bribery case in Kuching
The two suspects are seen being escorted by enforcement personnel in the courthouse. KUCHING (Aug 5): The Malaysian Anti-Corruption Commission (MACC) Sarawak has remanded two business owners for allegedly soliciting and receiving more than RM800,000 in bribes to facilitate an application for a non-existent commercial land lot in Kuching. Magistrate Ling Hui Chuan issued a six-day remand order until Aug 11 at the Kuching Magistrate's Court today, following an application by MACC. Sources said the two male suspects, both in their 50s, were arrested around 8pm yesterday when they turned up at the MACC Sarawak office to give their statements. 'Preliminary investigations revealed that the suspects allegedly conspired to solicit and receive bribes as an inducement to help process an application for a commercial development land lot in Kuching. However, such an application never existed,' the source said. It is believed the alleged offences took place between 2020 and 2021. MACC Sarawak director Hasbilah Mohamad Salleh, when contacted, confirmed the arrests, adding that the case is being investigated under Section 16(a)(A) of the MACC Act 2009. bribery case businessman Court lead Malaysian Anti-Corruption Commission
