UMNO denies giving grant, fund to entrepreneurs

UMNO has denied its involvement in providing grants or fund to entrepreneurs, especially petty traders and new companies, with promise of multiple returns within a certain period.

Its secretary-general, Datuk Seri Tengku Adnan Tengku Mansor said the party had received several complaints over the existence of such grants or funds linked to UMNO to help private limited companies and enterprises.

"As such, I would like to deny UMNO's involvement in giving the grant or fund to any quarters. In fact, UMNO has never appointed any individual or any party to become an agent for the scheme," he said in a statement here Friday.

Tengku Adnan said the scam targeted on petty traders and startups with small capital.

He advised members of the public not to be easily duped with such tactics and to check with UMNO headquarters first to avoid becoming prey to such a scam. -- BERNAMA