Agrobank today signed two (2) memorandums of understanding (MoUs) with Mydin Mohamed Holdings Berhad (Mydin) and Pertubuhan Peladang Kebangsaan (PPK) Kuala Langat witnessed by YB Dato’ Haji Salahuddin Ayub, Minister of Agriculture & Agro-Based Industry and YBhg Tan Sri Mohamad Zabidi Zainal, Chairman Board of Directors of Agrobank and guests in conjunction with Malaysia Agriculture, Horticulture and Agrotourism Show 2018 (MAHA 2018) organised by Ministry of Agriculture & Agro-Based Industry (MOA).
MoU WITH PPK KUALA LANGAT
Agrobank is providing group funding to assist participants under Program Pelepasan Pemasaran Bersepadu Agropreneur Muda Ternakan by PPK Kuala Langat. Agrobank will be assisting the participant particularly those who under B40 and M40 group by providing working capital financing to purchase ruminants from suppliers that are registered under PPK Kuala Langat. This is to ensure production of ruminant is enough to cater the market demand especially during the peak season of Aidiladha celebration.
Through this programme, Agrobank offers a minimum financing of RM3,000 – RM300,000 and profit rate as low as 3.75% per annum for period of 5 years.
According to Tuan Syed Alwi Mohamed Sultan, President/Chief Executive Officer of Agrobank (P/CEO), the collaboration between Agrobank & PPK Kuala Langat is to provide financing solutions for agropreneurs through affordable capital management. It is hope that this initiative will aid the agropreneurs in expanding their ruminant businesses. This programme is one of Agrobank focuses to support government initiative to increase the food productions in the country.