Agrobank Through iTEKAD Allocates RM100,000 to Empower Asnaf and B40 Entrepreneurs for Pineapple Cultivation Project

Agrobank reaffirms its commitment to empowering the asnaf and B40 communities with the presentation of RM100,000 in iTEKAD grants to 20 selected agropreneurs for the cultivation of MD2 pineapples in Chuping, Perlis.

According to Dato’ Tengku Ahmad Badli Shah Raja Hussin, President/Group Chief Executive Officer of Agrobank, “This project is part of our collaboration with Aqina Fruits Sdn Bhd, which also includes pineapple plantation initiatives in other locations such as Beaufort and Pekoti. The Chuping and Beaufort projects each receive an allocation of RM6 million, while the Pekoti project receives the highest allocation of RM12 million. Overall, the collaboration between Agrobank and Aqina Fruits through contract farming projects under the B40 model receives a total funding allocation of RM24 million.”

He added, “As a development financial institution, Agrobank offers financing facilities of up to RM280,000 for each participant involved in this pineapple cultivation project to support their agricultural venture. Today, 20 participants, consisting of the B40 group and Military Veterans, are receiving iTEKAD grants of RM5,000 each to support the purchase of additional equipment for cultivating a five-acre plot of land leased from Felda Global Ventures (FGV).”

The MD2 pineapple cultivation initiative is one of Agrobank’s ongoing efforts to strengthen the socio-economic development of communities, particularly those in the lower-income group. It also aims to stimulate growth in the agricultural sector and boost national pineapple production to meet domestic market demand and explore export potential.

Through the iTEKAD initiative, Agrobank has introduced several programmes, including Program Pembiayaan Usahawan Mikro MAINJ, Program Rakan Ladang BERNAS, Program Skim Tanam Semula Kelapa Sawit and Program Pemodenan Vesel dan Mekanisasi Tangkapan. These programmes focus on developing entrepreneurs from the asnaf and B40 groups through three main components: provision of seed capital, microfinancing and financial training.