Sunday, October 30, 2016
Economic Transformation Program for Asnaf
The Accounting Research Institute (ARI) in collaboration with the Sultan Mizan Foundation or the Yayasan DiRaja Sultan Mizan (YDSM) and Mydin Holding Berhad initiated an economic transformation program for the Asnaf and single mothers in Terengganu in 2014. Pusat Jahitan Baju Kurung specializes in producing the national dress for Malaysia. The Sultan Mizan Foundation with the sponsorship of large government linked companies (GLCs) equipped the centres with sewing machines and other tailoring equipment. As a party to the program, Mydin Holding Berhad supplies raw materials in the form of textiles and other tailoring materials and buy-back the finished products at bulk prices. Two centres have been set up respectively in Kuala Terengganu and Paka. Each centre accommodates around 20-25 participants.
The participants, who work in groups produce at least 500 pairs of baju kurung weekly. One of the main challenges often faced by small entrepreneurs is to find sustainable customers. The ready-market concept offered by Mydin Holding Berhad allows the participants to produce quality products. ARI provides financial management and other governance-related training to the participants. The program targets a period of two years for the participants, after which they are encouraged to manage their own little business. Congratulations all ARIANs.