Tag: geopolitical

KUSKOP, CGC Strengthen MSME Access To Financing – Steven Sim

KUALA LUMPUR, May 27 -- The Ministry of Entrepreneur and Cooperatives Development (KUSKOP) has welcomed the role of Credit Guarantee Corporation Malaysia Bhd (CGC) in helping micro, small and medium enterprises (MSMEs) gain access to financing through guarantee schemes, financial advisory services and financing facilitation initiatives. Its Minister Steven Sim said the efforts were crucial in helping underserved MSMEs obtain financing and working capital amid rising operating costs and geopolitical uncertainties linked to conflicts in West Asia. “Many MSMEs, particularly micro and small enterprises, still face difficulties obtaining financing due to limited credit history and high borrowing costs,” he said in a statement today after chairing a meeting with CGC on efforts to strengthen financing and capital access for MSMEs in Malaysia. During the meeting, CGC briefed KUSKOP on ongoing initiatives, including credit guarantee schemes, financing facilities, digital marketing training, youth entrepreneur development programmes and MSME networking sessions nationwide. Sim also called on agencies under KUSKOP, particularly SME Corp Malaysia, to strengthen cooperation with CGC and enhance outreach on financing assistance through platforms such as the MyKNP financing advisory service and the imSME online financing referral platform, supported by CGC and Bank Negara Malaysia. He said KUSKOP remained committed to working closely with financial institutions, development financial institutions and ecosystem partners to improve financing access, strengthen MSME resilience and advance the ‘Empowering Malaysian Businesses’ agenda. -- BERNAMA

KUALA LUMPUR, May 27 — The Ministry of Entrepreneur and Cooperatives Development (KUSKOP) has welcomed the role of Credit Guarantee Corporation Malaysia Bhd (CGC) in helping micro, small and medium enterprises (MSMEs) gain access to financing through guarantee schemes, financial advisory services and financing facilitation initiatives. Its Minister Steven Sim said the efforts were crucial […]

INSKEN Invests RM5 Mln To Strengthen Social Enterprises – Sim

KUALA LUMPUR, May 22 -- A total of RM5 million has been invested by the National Entrepreneurship Institute (INSKEN) since 2022 to strengthen the country’s social enterprise sector through initiatives focused on capacity building, market access and social enterprise accreditation. Entrepreneur Development and Cooperatives Minister Steven Sim Chee Keong said the investment aligns with the MADANI Government’s efforts to position social enterprises as a driver of Malaysia’s inclusive economy. He said social enterprises are becoming increasingly important amid geopolitical uncertainties, global supply chain disruptions and social changes, as the model not only focuses on profit, but also addresses social and environmental issues through creative and sustainable business approaches. “As an example, an ageing society in the future will require more community care services and social support, which can also be driven through the social enterprise model,” he said in a statement today. Among the initiatives implemented by INSKEN are engagement sessions with industry players, social enterprise accreditation clinics, international conferences, and programmes to strengthen networking and market access locally and abroad. Sim said 3,875 participants have benefited from INSKEN’s programmes and initiatives to date. He said INSKEN had also allocated RM200,000 over the past six months to help 20 social enterprise entities expand their markets and community impact through procurement opportunities, operational subsidies, event participation and strategic business matching. He also encouraged more social enterprises to obtain accreditation through INSKEN to enhance credibility and gain access to financing, tax exemptions, government programmes, exhibitions and other forms of support. Based on the Social Entrepreneurship Action Framework 2030 (SEMy2030) and the British Council’s The State of Social Enterprise in Malaysia study, Malaysia had an estimated 20,000 social enterprises as of 2018. To date, 600 business entities have received social enterprise accreditation through INSKEN, comprising 281 Aspiring Social Enterprises, 252 Basic Social Enterprises and 67 Accredited Social Enterprises. Meanwhile, INSKEN chief executive officer Viviantie Sarjuni said the agency is moving towards mainstreaming social procurement practices to help social enterprises become more competitive, sustainable and ready to expand further. -- BERNAMA

KUALA LUMPUR, May 22 — A total of RM5 million has been invested by the National Entrepreneurship Institute (INSKEN) since 2022 to strengthen the country’s social enterprise sector through initiatives focused on capacity building, market access and social enterprise accreditation. Entrepreneur Development and Cooperatives Minister Steven Sim Chee Keong said the investment aligns with the […]

Malaysian trade hits historic record of RM1.127 trillion for January-April 2026

KUALA LUMPUR, May 22 -- Malaysia's trade volume jumped 15.3 percent year-on-year to RM1.127 trillion for the period January to April 2026, creating new history, according to the Malaysia External Trade Development Corporation (MATRADE). The performance was driven by a surge in demand for high growth, high value (HGHV) products and a planned market diversification strategy. In a statement on Thursday, MATRADE said exports jumped 19 percent to RM609.31 billion while imports increased 11.1 percent to RM517.40 billion, thus recording the highest value ever recorded during the period. "This resulted in a trade surplus of RM91.92 billion, a remarkable jump of 99.1 percent which effectively doubled the previous year's performance," he explained. MATRADE added that Malaysia has demonstrated remarkable external sector resilience despite the escalating geopolitical uncertainties in West Asia. Export expansion in the period January to April 2026 was driven by strong demand for electrical and electronic (E&E) products which grew by RM71 billion or 32.1 percent, supported by the global semiconductor boom which was further boosted by the application of artificial intelligence (AI), cloud computing and the expansion of data centers. Most importantly, Malaysia strengthened its position in the global AI value chain with exports of AI-enabled products jumping 42.9 percent to RM319.05 billion, now accounting for more than half (52.4 percent) of the country's total exports. In addition, pharmaceutical and automotive products provided an additional dimension to the HGHV narrative by recording double-digit growth of 21.9 percent and 10.3 percent respectively. This is in line with the 13th Malaysia Plan (13MP) strategic priorities for the HGHV industry including semiconductors, energy transition technologies as well as sectors driven by the digital economy. Meanwhile, April 2026 also delivered exceptional results with monthly exports jumping 36.9 percent to RM182.74 billion and the monthly trade surplus increasing by 460.5 percent to RM28.75 billion, the highest value ever recorded in Malaysia's trade history. This in turn strengthens the momentum that drives the country's trade engine. Meanwhile, MATRADE Chief Executive Officer Abu Bakar Yusof said the surge in AI-enabled products and semiconductor exports confirmed that Malaysian industry is firmly entrenched in the technology supply chain that shapes the global economy. "MATRADE remains committed to guiding Malaysian exporters and small and medium enterprises (SMEs) to move up the value chain to ensure that we not only dominate the market, but also capture the highest value opportunities within it," he said. According to MATRADE, exports to the United States increased by 32.5 percent, Taiwan (+68.9 percent), Hong Kong (+43.0 percent), China (+18.7 percent), the European Union (+23.9 percent) and ASEAN (+8.6 percent) which was partly driven by shipments of E&E products. Exports to free trade agreement (FTA) partners increased 14.2 percent to RM390.09 billion with 17 out of 24 FTA countries recording positive growth including South Korea, India, Mexico, the United Kingdom, Australia and New Zealand. Most notably, Malaysia's trade diversification is entering a high-growth phase that goes beyond its traditional pillars. Developing markets recorded exponential growth with the Democratic Republic of Congo (+196.6 percent), Sudan (+223.1 percent), Zimbabwe (+220.5 percent), Bulgaria (+141.6 percent), Haiti (+103.5 percent), Ethiopia (+88.1 percent) and Uzbekistan (+29.7 percent) leading the surge. "This reflects the systematic expansion of Malaysia's trade footprint into high-growth and underserved markets across Africa and Eastern Europe," he said. He explained that Malaysia's diversity strategy is also on the right track. "While our core markets remain strong, the exponential growth we are seeing in frontier economies in Africa, Latin America and Eastern Europe signals that Malaysian exporters are confidently entering new markets. "In this era of global trade uncertainty, geographical resilience is not just a strategic precaution. We are stepping beyond traditional markets to ensure Malaysia remains important and cannot be ignored in the global supply chain," said Abu Bakar. MATRADE said Malaysia's trade trajectory for 2026 remains robust, driven by a combination of HGHV sector momentum, diversified target markets and strategic adaptability in the face of geopolitical uncertainties. This positions Malaysia as a confident and resilient player in the global trade landscape, according to MATRADE. He explained that the agency will continue to support Malaysian exporters to seize new emerging opportunities, take advantage of trade agreements and firmly penetrate high-value segments in the global supply chain. --BERNAMA

KUALA LUMPUR, May 22 — Malaysia’s trade volume jumped 15.3 percent year-on-year to RM1.127 trillion for the period January to April 2026, creating new history, according to the Malaysia External Trade Development Corporation (MATRADE). The performance was driven by a surge in demand for high growth, high value (HGHV) products and a planned market diversification […]

TH Introduces New Food Serving Containers To Improve Meal Quality For Pilgrims

MAKKAH, May 18– In a move to improve meal services for Malaysian pilgrims, Tabung Haji (TH) has introduced three-compartment serving containers to enhance food quality and better suit local tastes. TH Group managing director and chief executive officer Mustakim Mohamad said the initiative was introduced following feedback from pilgrims over the past few years that […]

Malaysia Remains Resilient in the Face of Global Crisis – Steven Sim

KUALA LUMPUR, May 7 -- Malaysia has three main advantages that can ensure the country continues to be resilient and competitive, said Minister of Development of Entrepreneurs and Cooperatives Steven Sim Chee Keong yesterday. He said these advantages include political stability and a conducive climate, a strategic geographical position and the strength of the human factor among the country's diverse society. "In a world hit by various crises, many things are beyond our control but Malaysia has three main ingredients that allow us to continue to succeed," he said when speaking at the Bisnes Sinar Harian Awards (BISA 2026) here organised by Sinar Harian. Also present were Karangkraf Chairman Firdaus Hussamuddin and Sinar Karangkraf Chief Executive Officer Farah Hussamuddin. Sim also said that the country's political stability and strong leadership are the foundation for investor confidence and economic growth, in addition to Malaysia's strategic geopolitical and geoeconomic position, which also provides advantages in strengthening international trade and investment relations. "The third factor is our diverse people, who are fluent in various languages ​​and understand various cultures around the world," he said. He also described the organisation of the awards by the Malay-language newspaper, Sinar Harian, as a significant step in recognising the capabilities of local entrepreneurs. "There are many business awards organised by Chinese-language newspapers that have seen many Malay entrepreneurs succeed... today, I am very proud that the Malay-language newspaper has also taken the initiative to recognise the capabilities of local entrepreneurs, especially Malay entrepreneurs in their respective sectors," he said. At the ceremony, a total of 37 awards were presented, including the Global Logistics & Maritime Leader Award, the Entrepreneur Development Leader Award and the Jury's Choice Award, and Andalusia Travel & Tours Sdn Bhd won the BISA 2026 Lifetime Achievement Award. Meanwhile, Firdaus said BISA 2026 is a tribute to local entrepreneurs who have high spirit and resilience in facing the current economic challenges. "Sinar Harian has stood for two decades as a consistent voice bringing the issues, pulse and aspirations of the people including entrepreneurs across the country," he said. -- BERNAMA

KUALA LUMPUR, May 7 — Malaysia has three main advantages that can ensure the country continues to be resilient and competitive, said Minister of Development of Entrepreneurs and Cooperatives Steven Sim Chee Keong yesterday. He said these advantages include political stability and a conducive climate, a strategic geographical position and the strength of the human […]

Prabowo departs for Moscow, holds talks with Putin

AKARTA: Indonesian President Prabowo Subianto has departed for Moscow, Russia to meet with Russian President Vladimir Putin, with discussions expected to cover various strategic issues amid changing global dynamics. Cabinet Secretary Teddy Indra Wijaya said Prabowo and his delegation departed from Halim Perdanakusuma Air Force Base here at about 11.10pm local time on Sunday, and were scheduled to meet with Putin on Monday evening upon arrival in Moscow. "The flight to Moscow will take 12 hours non-stop using the Garuda Indonesia-1 aircraft, PK-GIF," he said in a statement issued by the Presidential Secretariat's Press, Media and Information Bureau on Monday. Teddy said the two leaders are expected to focus on energy security, continued cooperation with the Russian government as well as ensuring the stability of the country's energy supply, including the availability of oil. He said the discussion also covered global geopolitical developments, with Indonesia expected to convey its strategic stance in maintaining world stability and peace. He said Prabowo was accompanied by Foreign Minister Sugiono and Minister of Energy and Mineral Resources Bahlil Lahadalia. He said Prabowo's visit to Russia this time was his third, after his second visit on Dec 10, 2025 and his first visit to Saint Petersburg on June 18 to 20, 2025. -- BERNAMA

JAKARTA: Indonesian President Prabowo Subianto has departed for Moscow, Russia to meet with Russian President Vladimir Putin, with discussions expected to cover various strategic issues amid changing global dynamics. Cabinet Secretary Teddy Indra Wijaya said Prabowo and his delegation departed from Halim Perdanakusuma Air Force Base here at about 11.10pm local time on Sunday, and […]