The government of the Malaysian state Selangor recently announced that it would set up a microfinance program in an attempt help low-income residents increase their earnings. The initial funding for the program will come from a MYR 392 million (the equivalent of USD 117 million) debt payment from Talam Corporation, a Malaysian investment holding company, and unspecified state-owned companies [1]. The share of the loan each entity will contribute has not been made public.

About Talam Corporation

Talam Corporation is an investment holding company based in Malaysia that operates in Malaysia and China. The company engages in property investment, management, and development as well as offers asset management and consulting services [2]. As of January 31, 2009, the company holds MYR 3 billion (the equivalent of USD 900 million) in assets [3].

By Eric McKay, Research Assistant

Bibliography

[1] “Selangor To Launch Micro-Credit Scheme To Help Poor, Low-Income Group”, Bernama, March 8, 2010, http://www.bernama.com/bernama/v5/newsgeneral.php?id=480730

[2] “Talam Corp BHD”, BusinessWeek, http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=TA:MK

[3] “Reports and Financial Statements 2009″, Talam Corporation, http://www.talam.com.my/news/Talam%20Corporation%20Berhad%202009%20Audited%20Financial%20Statements.pdf

Additional Links

MicroCapital Universe: Talam Corporation: http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Talam+Corporation