Tag: KUSKOP

KUSKOP Allocates Nearly RM7 Billion Under ‘Power Up 10K’ Initiative to Support 213,000 MSMEs

KUSKOP Allocates Nearly RM7 Billion Under ‘Power Up 10K’ Initiative to Support 213,000 MSMEs

KUALA LUMPUR, JULY 23 –The Ministry of Entrepreneur Development and Cooperatives (KUSKOP) has channelled nearly RM7 billion through the ‘Power Up 10K’ initiative to support more than 213,000 micro, small and medium enterprises (MSMEs) nationwide while strengthening the growth of local businesses. The initiative aims to provide greater assistance to entrepreneurs by enhancing access to […]

KUSKOP to channel RM7 billion to help over 213,000 entrepreneurs in first six months of 2026

KUSKOP to channel RM7 billion to help over 213,000 entrepreneurs in first six months of 2026

SEREMBAN, JULY 22 — The Ministry of Entrepreneur and Cooperative Development (KUSKOP) has channeled an allocation of almost RM7 billion through the ‘Power Up 10K’ initiative which has assisted more than 213,000 Micro, Small and Medium Enterprise (PMKS) entrepreneurs nationwide during the first six months of this year. Minister of Entrepreneur and Cooperative Development Steven […]

KUSKOP to spend nearly RM3 billion to empower Bumiputera entrepreneurs since 2023 – Steven

KUALA LUMPUR: The Ministry of Entrepreneur and Cooperative Development (KUSKOP) is spending almost RM3 billion to implement various specific programmes to empower Bumiputera entrepreneurs from 2023 to 2025. Minister of Entrepreneur and Cooperative Development Steven Sim said the effectiveness of the spending was measured through several outcome indicators, including an increase in sales of at least 20 percent among participants and 150 companies successfully increasing their business size. "Regarding the government's return on investment , the ministry measures the effectiveness of empowerment programs and overall spending from various outcome indicators or tangible results for participants," he said. Steven said this when answering a supplementary question from Datuk Seri Dr Zaliha Mustafa (PH-Sekijang) regarding the allocation spent by KUSKOP for the Bumiputera empowerment programme and the return to the government measured through job creation during the question and answer session in the Dewan Rakyat today. According to him, for the first five months of this year, the ministry has approved financing worth RM5 billion which has benefited almost 180,000 entrepreneurs of various races and business categories nationwide. He said for the period 2025 to May 2026, specific programmes for Bumiputera entrepreneurs through agencies under KUSKOP have approved financing totaling RM1.407 billion to more than 53,000 Bumiputera entrepreneurs. "Of that total, 11,469 Bumiputera youth received benefits with an allocation of more than RM251 million," he said. Steven said the ministry also implemented elements of halal industry development through various programs through its agencies to help entrepreneurs obtain halal certification to expand the market. Regarding Datuk Mas Ermieyati Samsudin's (PN-Masjid Tanah) proposal regarding a national database system or single window mechanism for coordinating assistance to micro, small and medium enterprises (PMKS), Steven said KUSKOP had appointed SME Corp Malaysia as the coordinating agency. "SME Corp is being used as a one-stop centre to coordinate in terms of financing, grants, funds and other support systems. SME Corp also plays a role in facilitating the provision of information, channeling applicants and PMKS to the appropriate agencies," he said. Steven said KUSKOP was also implementing an initiative to develop a website or portal as a one-stop centre to list various types of support provided by more than 60 government agencies. -- BERNAMA

KUALA LUMPUR: The Ministry of Entrepreneur and Cooperative Development (KUSKOP) is spending almost RM3 billion to implement various specific programmes to empower Bumiputera entrepreneurs from 2023 to 2025. Minister of Entrepreneur and Cooperative Development Steven Sim said the effectiveness of the spending was measured through several outcome indicators, including an increase in sales of at […]

Steven Sim Commends Bank Rakyat’s Support for Johor Entrepreneurs During HPM 2026

JOHOR BAHRU, June 8 -- Minister of Entrepreneur Development and Cooperatives, YB Steven Sim Chee Keong, conducted a working visit to Bank Rakyat at Coronation Square in conjunction with the Hebatkan Perniagaan Malaysia (HPM) 2026 Carnival – Johor Edition, which was held from June 5 to 7. During the visit, Steven Sim expressed his appreciation to Bank Rakyat employees for their dedication and commitment in facilitating business financing assistance for entrepreneurs in Johor. He acknowledged the bank’s important role in supporting the growth of small and medium-sized enterprises (SMEs) and helping local entrepreneurs gain access to financing opportunities needed to expand their businesses. Steven Sim also expressed hope that Bank Rakyat would continue to strengthen its efforts in empowering entrepreneurs, in line with the Ministry of Entrepreneur Development and Cooperatives’ (KUSKOP) mission to enhance and accelerate the growth of Malaysian businesses. The HPM 2026 Carnival serves as a platform to connect entrepreneurs with business development opportunities, financing institutions and government support initiatives aimed at strengthening the nation’s entrepreneurial ecosystem. -- MINUTESMY -- SOURCE: FB Ministry of Entrepreneur and Cooperative Development

JOHOR BAHRU, June 8 — Minister of Entrepreneur Development and Cooperatives, YB Steven Sim Chee Keong, conducted a working visit to Bank Rakyat at Coronation Square in conjunction with the Hebatkan Perniagaan Malaysia (HPM) 2026 Carnival – Johor Edition, which was held from June 5 to 7. During the visit, Steven Sim expressed his appreciation […]

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 […]

KUSKOP Stepping Up Efforts To Empower Hawkers, Petty Traders – Sim

GEORGE TOWN, May 14 — The Ministry of Entrepreneur and Cooperatives Development (KUSKOP) is intensifying efforts to help petty traders and hawkers improve their business management capabilities so that they can benefit from the various policies and financing facilities provided. Entrepreneur and Cooperatives Development Minister Steven Sim said the effort was being implemented through agencies […]

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 […]

MUDRA funds 2,000 Indian entrepreneurs, RM70 million allocation

BUKIT MERTAJAM: The Ministry of Entrepreneur and Cooperative Development (KUSKOP) has approved financing of RM70 million to nearly 2,000 Indian entrepreneurs nationwide through the Entrepreneur Capital and Indian Economic Stimulus Package 2026 (MUDRA) so far. Its Minister, Steven Sim, said the amount was part of an overall fund of RM220 million announced recently, to help empower Indian entrepreneurs in the country. "I hope more entrepreneurs will come forward to participate in our MUDRA program, which is a program under Power Up 10,000 to boost and help Malaysian businesses." "The MADANI Government's commitment is to continue to empower the micro, small and medium enterprise (MSME) sector as the main pillar of the country's economic development, including ensuring more inclusive entrepreneurial development involving the Indian community through various special schemes and targeted assistance," he said. He said this after attending the Sales Carnival and Entrepreneur Engagement Session of the Malaysian Indian Chamber of Commerce and Industry (MAICCI) together with KUSKOP agencies in conjunction with Mother's Day celebrations. The program, organised by MAICCI, brought together approximately 30 local entrepreneurs with 10 agency booths under KUSKOP participating to open up networking spaces, advisory services and financing opportunities for local SMEs. Sim, who is also the Member of Parliament for Bukit Mertajam, congratulated MAICCI and Sri Muniswarar Temple on the success of organising the carnival, which he described as an important platform to further boost the people's business activities. KUSKOP also welcomes the organization of the Indian Entrepreneur Carnival tour series by MAICCI throughout the country, and will provide full cooperation including mobilizing agencies under it to participate in the program. The participation of the KUSKOP agency in the carnival aims to provide explanations, information and provide services directly to participating Indian entrepreneurs. Touching on the redevelopment of the Bukit Mertajam Indian Society building, Sim said the historic building, which was established in 1952, would be redeveloped as a symbol of the Indian community in Bukit Mertajam, as well as for the convenience of the general public. -- BERNAMA

BUKIT MERTAJAM: The Ministry of Entrepreneur and Cooperative Development (KUSKOP) has approved financing of RM70 million to nearly 2,000 Indian entrepreneurs nationwide through the Entrepreneur Capital and Indian Economic Stimulus Package 2026 (MUDRA) so far. Its Minister, Steven Sim, said the amount was part of an overall fund of RM220 million announced recently, to help […]

SME Corp Allocates RM12 Mln To Bolster Local Entrepreneurs, Businesses

KUALA LUMPUR, May 10 2026 — SME Corp Malaysia has allocated RM12 million to strengthen the development of local entrepreneurs and businesses, which will benefit 500 Bumiputera youth entrepreneurs. The agency, in a statement today, announced that the allocation was channeled through the Tunas Usahawan Belia Bumiputera Skala (TUBE-S) Programme which was held simultaneously in […]