Brunei Shell Petroleum Company Sdn Bhd (BSP) via LiveWIRE Brunei in collaboration with Bank Islam Brunei Darussalam (BIBD) launched a new initiative called the Business Awards Start-Up Funding Scheme (BASfs) aimed to support the development of SMEs and Startups in Brunei Darussalam. The ceremony was held on the 24th July 2018 at the Indera Kayangan Ballroom, the Empire Hotel & Country Club and was attended by Yang Berhormat Dato Seri Setia Dr Haji Mat Suny bin Haji Mohd Hussein, Minister of Energy and Industry as the Guest of Honour.
Also in attendance were Yang Mulia Hj Mohamad Azmi bin Hj Mohd Hanifah, Permanent Secretary (Energy and Industry, Ministry of Energy and Industry (MEI); Yang Mulia Hj Kamaludin bin Hj Bungsu, Permanent Secretary (Manpower and SHENA), MEI; Yang Mulia Pg Jamra Weira bin Pg Hj Petra, Deputy Permanent Secretary (Power, IT & E-Government), MEI; Dr Ceri M Powell, Managing Director of BSP; Javed Ahmad, CEO of Darussalam Enterprise (DARe) and Mubashar Khokhar, CEO of Bank Islam Brunei Darussalam (BIBD).
Five local entrepreneurs were granted the start-up funds under BASfs – Hazeeyah Duck Farm, Santai Ride, Pondok Selera Kitani, Al-Huffaz Management and Roys Car Wash. The scheme offers funds between $5,000 to $50,000 per company that would be repayable over the period of 3 years without interest to fund their business. The BASfs awards comprise of two categories: Category A is the award for the best business plans and Category B is focusing on startups that have been operational from six months to three years.
Yang Berhormat Dato Seri Setia Dr. Haji Mat Suny bin Haji Mohd Hussein, Minister of Energy and Industry in his keynote speech highlighted that “the Government, along with its partners like Darussalam Enterprise and various agencies and entrepreneurship centres, remain committed to supporting our local enterprises.” The Minsiter also iterated that this commitment is not only in encouraging entrepreneurship programmes like LiveWIRE and the Energy Business Academy, but also creating a conducive business ecosystem and forging linkages between local businesses and FDI companies. Entrepreneurs were also urged to explore opportunities beyond the oil and gas sector and overseas market.
The Minister further added that the Ministry of Energy and Industry introduced a new programme this year called i-Usahawan, which aims to provide a platform for young local entrepreneurs to be awarded selected contracts with the Brunei Shell Joint Venture (BSJV) companies. This is a part of the Ministry’s initiative to expand opportunities for smaller local businesses.
The event was also marked with the signing of a Memorandum of Understanding (MoU) between LiveWIRE and BIBD. Signing on behalf of LiveWIRE Brunei were Hajah Rosita binti Haji Hassan, BSP In-Country Value Manager as Chairperson and Pengiran Redzuan bin Pengiran Haji Abas, LiveWIRE Brunei Programme Director. Meanwhile BIBD was represented by Koh Swam Sing, Head of Corporate Banking Division and Dayang Hajah Saadatun Amanda binti Pehin Orang Kaya Lela Sura Dato Seri Laila Jasa Awang Haji Abas. The signing ceremony was witnessed by Yang Berhormat Minister of Energy and Industry and the Managing Director of BSP.
Yang Berhormat Dato Seri Setia Dr. Awang Haji Mat Suny bin Hj Mohd Hussein, Minister of Energy and Industry delivering the keynote speech. Photo Courtesy of BizBrunei
Yang Berhormat Dato Seri Setia Dr. Awang Haji Mat Suny bin Hj Mohd Hussein, Minister of Energy and Industry and Dr. Ceri M Powell, Managing Director of BSP in a group photo with the recipients. Photo Courtesy of BizBrunei