The National Entrepreneur Development Corp (PUNB) will appoint 50 trainee accountants to help turn around financially-ailing Bumiputera companies.


Trainee accountants to help turn around ailing Bumi companies

Published: 2014/02/04

KUANTAN: The National Entre-preneur Development Corp (PUNB) will appoint 50 trainee accountants to help turn around financially-ailing Bumiputera companies.
Chairman Datuk Seri Mohd Ali Rustam said 30 per cent, or 2,040 of the 6,800 Bumiputera firms have failed to keep up their repayments to PUNB due to business losses.
“PUNB has decided to appoint 50 trainee accountants this month and we hope they will help alleviate the burden of these firms which cannot afford the services of an accountant.
“Money going out, coming in, profits, loss, marketing, etc, must be recorded daily. Sometimes we conduct our businesses well, but lack of proper accounting skills is one of the reasons why Bumiputera companies do not succeed,” he said after meeting Bumiputera entrepreneurs here.

Mohd Ali said the trainees have one year to set the accounts straight for the companies, which can then decide to keep them in their payroll.
In a related development, PUNB has set aside RM270 million to be disbursed to more than 600 Bumiputera entrepreneurs this year.
PUNB has also formed a special entrepreneur committee in each state to help discuss problems and direction for these Bumiputera entrepreneurs.
“So far, Kedah, Johor, Malacca and Pahang have established such committees and I hope, by end of this month, the remaining states will establish similar committees,” Mohd Ali said.Bernama

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (, the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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