Tag: Ekonomi Malaysia

National Kekun Bumiputera financing fund increased to RM1 billion – Steven Sim

BANGI, 12 MAY -- The Bumiputera financing fund under the National Business Group Economic Fund (TEKUN Nasional) has been increased from RM500 million to RM1 billion, according to the Minister of Entrepreneur and Cooperative Development, Steven Sim. He said the government decided to increase the funding amount after an encouraging response to the scheme, which was previously increased from RM300 million to RM500 million. "This is part of the KUSKOP (Ministry of Entrepreneur and Cooperative Development) PowerUp 10K effort to strengthen Malaysian businesses." "We want more funds to be injected into the micro, small and medium enterprise sector (PMKS) as well as TEKUN Nasional which is one of the important agencies under KUSKOP," he said. He said this to reporters after the TEKUN Nasional 2026 Appreciation Ceremony, here, yesterday. Sim said the increased funding is expected to help entrepreneurs expand their businesses and face various global crises that affect the sector. "With this RM1 billion, we will not only be able to help entrepreneurs face geopolitical and geoeconomic challenges, but also help them to further expand their businesses," he said. The PowerUp 10K initiative implemented by KUSKOP aims to help SMEs entrepreneurs improve their businesses in the face of global uncertainty. Sim previously said that the government has allocated funding of up to RM15 billion into the market, to support the scaling up of approximately 10,000 MSME companies, in line with efforts to empower the people's economy. In a similar development, he also said that the government is expected to channel the entire fund (RM15 billion) through agencies under KUSKOP in 2026, to benefit 400,000 entrepreneurs and cooperatives nationwide. He said that TEKUN Nasional will also be strengthened through this large allocation, so that it can continue to play an important role in the agenda to empower the country's PMKS. "From Jan 1 to April 30 this year, TEKUN Nasional has channeled around RM360 million to almost 20,000 PMKS entrepreneurs," he said. At the event, Sim also celebrated the dedication and contributions of TEKUN Nasional employees in empowering businesses in Malaysia. A total of five categories of awards were presented to 247 recipients, namely the Jasamu Dikenang Award, the Loyal Service Award, the Excellent Service Award, the TEKUN Excellence Award and the 2025 Achievement Award. Also present were TEKUN Nasional Chairman, Datuk Abdullah Sani Abdul Hamid; Deputy Minister of KUSKOP, Datuk Mohamad Alamin and Secretary-General of KUSKOP, Datuk Seri Khairul Dzaimee Daud.

BANGI, 12 MAY — The Bumiputera financing fund under the National Business Group Economic Fund (TEKUN Nasional) has been increased from RM500 million to RM1 billion, according to the Minister of Entrepreneur and Cooperative Development, Steven Sim. He said the government decided to increase the funding amount after an encouraging response to the scheme, which […]