120 Bumiputera vendors targeted to register under six new VDP anchor firms - MEDAC

The anchor companies are Kumpulan Media Karangraf Sdn Bhd, Percetakan Nasional Malaysia Bhd, Aerodyne Group Sdn Bhd, Sime Darby Bhd, UEM Sunrise Bhd, and Cement Industries-CIMA, he said.

"We hope the anchor companies will guide the vendors under them. Excellent guidance to vendors with potential will create future anchor companies," he told a media conference after witnessing the memorandum of understanding (MoU) exchange for the VDP here today.

Prior to this, a total of 24 anchor companies comprising government-linked companies and large local companies had participated in the programme since its introduction in 2016 involving the transportation, pharmaceutical, plantation, printing, drone technology and construction sectors.

Noh said the Ministry of Entrepreneur Development and Cooperatives (MEDAC) plans to request for an allocation of RM97 million to make the VDP a success under the 12MP to develop more competitive local entrepreneurs.

According to him, throughout the 11th Malaysia Plan, 951 Bumiputera vendors have been trained through the Capacity and Capability Development Programme for Vendors (PPKV) while 39 Bumiputera vendors received the Vendor Innovation and Commercialisation Grants (GIPV) involving an allocation of RM61 million.

He said anchor companies that participate in the VDP would enjoy the double deduction tax incentive for eligible expenditure for their vendors' development.

"Anchor companies are responsible to monitor the vendors' achievements. MEDAC will refer to the anchor firms to learn about the vendors' achievements," he added.

Meanwhile, Noh said MEDAC aims to widen the VDP's scope to include high-impact sectors such as aerospace, rail, biotechnology and medical devices.