Posted on 06 May 2023
Source of News: The Borneo Post

KUCHING (May 6): Sarawakians are hopeful of having state-owned commercial bank for small and medium enterprises (SMEs) and a boutique airline realised soon, said Dato Peter Minos.

The Kota Samarahan District Council chairman said this is because the bank and airline are badly needed by Sarawakians now.

Regarding the SME Bank, he said there is no doubt that SME businessmen want it to be set up, because many SMEs in the state are having difficulties in getting business capital from ordinary commercial banks, especially when not having full and necessary collateral.

“The red tape and bureaucracy in dealing with banks is also a put off. Many are scared of the red tapes. 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, and 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, and with speedy and expeditious loan approval,” he said.

Regarding the proposed new Sarawak-owned airline, he said this is most welcomed.

“If there is money for it, why not,” he said.

He said existing airline companies, most of the time, are not budget friendly – charging exorbitant fares that are truly prohibitive and beyond the budget of ordinary Sarawakians.

“Like now, it costs a fortune to go to Langkawi and back for a break. The same with flying to Miri from Kuching.

“It is tough for Sarawakians moving around by air. It is too costly. This is not good for domestic tourism and local business,” he added.

Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg has been talking about the proposed Sarawak-owned SME bank and airline lately, with further details to be announced within the next one or two months.

The Borneo Post

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Last Updated On 07 Dec 2023

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