Fund for female Malaysian Chinese entrepreneurs launched

CHIEF Minister Chow Kon Yeow announced the arrival of the Malaysia Chinese Women Entrepreneurs Foundation (MCWEF) in Penang which will be reaching out to vulnerable women entrepreneurs in the community.


Established in 2011, the MCWEF is the first ever government funding entrusted to Chinese Civil Society and is backed by allocations from the Ministry of Finance amounting to RM50 million. It offers loan facilities which vary from RM5,000 to RM30,000 subject to terms and conditions.


The chief minister, during the press conference to announce the arrival of the MCWEF in Penang, explained in great detail of its origin and spelt out the criteria for eligible applicants who are sourcing for funds to start a business.


“The MCWEF was formed to provide micro-financing facilities to eligible Malaysian Chinese women for starting a small business as well as those already with existing businesses. This fund is backed with an allocation from the Ministry of Finance up to RM50 million. Applicants aged between 18 to 60 years old are welcome to apply. The loan repayment period is up to 72 months from the date of approval,” he said on Nov 7.


The MCWEF was founded by Titijaya Land Bhd Group managing director Tan Sri Datuk Lim Soon Peng as part of the Group’s corporate social responsibility programme and has to date, approved and released 3,000 loans out of more than 4,000 applications which originated mostly from the central and southern part of Peninsular Malaysia.


The Penang state government, Chow added, strongly recommends and encourages all kinds of entrepreneurial fund to be brought into the state in order to assist in producing successful entrepreneurs, contribute higher personal income and to spur the growth of the nation.


The co-organisers of the event include the Penang Fujian Merchants Association, Penang Teochew Merchants Association and Malaysia Lin Chamber of Commerce.


Further information and application forms of the MCWEF can be obtained at Komtar Level 3 concourse area or visit


Story by Victor Seow
Pix by Alissala Thian