PETALING JAYA (March 14): Perbadanan Nasional Bhd (Pernas) has invested RM977 million in 86 companies under its investment scheme since 1998.

Deputy Minister of Entrepreneur Development and Cooperatives Senator K Saraswathy said for 2021 to 2025, Pernas has allocated a total of RM300 million for equity investment.

“As an agency under the Ministry of Entrepreneur Development and Cooperatives (KUSKOP) tasked to manage the franchise industry, Pernas focuses on several sectors including retail, restaurants, and services sectors, and the FTW Racing brand is the first (franchisor) for the motoring and extreme sports sector.

“FTW Racing, as a prospective franchisor, can guide prospective franchisees under [the brand] to continue to succeed in this franchise industry,” she told reporters after officiating the FTW Racing outlet here on Tuesday.

Earlier, the agency said it provided a RM5 million investment injection to FTW Ventures Sdn Bhd through its brand, FTW Racing, as an effort to help the brand venture into the franchise business.

Pernas chairman Datuk Hazimah Zainuddin and FTW Ventures chief executive officer Hairolsham Abu Bakar were present at the launch event.

At the event, FTW Racing also launched a new application (app) for customers to order and buy extreme sports products.