Tag: MSMEs

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 Financing Agencies Go To The Ground To Reach MSMEs, In Line With PM’s Call – Sim

GEORGE TOWN, May 24 -- The Ministry of Entrepreneur Development and Cooperatives (KUSKOP) is mobilising four of its financing agencies to go to the ground and engage micro, small and medium enterprises (MSMEs) by providing advisory services and direct financing assistance. Its Minister, Steven Sim, said the four agencies are the National Entrepreneur Group Economic Fund (TEKUN Nasional), Amanah Ikhtiar Malaysia (AIM), SME Bank and Bank Rakyat, which are regularly deployed, including during the nationwide KUSKOP MADANI Sales programme. He said the move is also in line with Prime Minister Datuk Seri Anwar Ibrahim’s call for microcredit agencies to be more proactive in reaching out to the public and entrepreneurs. “We always go to the ground, provide face-to-face advisory services, and, if anyone is interested in registering with complete documents, they can apply on the spot. “So, we do not wait for customers to come to the office. Instead, we seek out customers, entrepreneurs and petty traders to provide assistance to them,” he told reporters after officiating the Family Day Carnival held in conjunction with the Sungai Pinang state constituency KUSKOP MADANI Sales programme today. Also present was chairman of the state Social Development, Welfare and Non-Muslim Affairs Committee Lim Siew Khim, who is also the Sungai Pinang assemblywoman. Yesterday, Anwar called on relevant agencies to intensify efforts to go to the ground and provide information to small and medium enterprises (SMEs) on financing facilities and assistance offered by the government. The Finance Minister said this was important to ensure the group does not miss out on various initiatives specifically designed to help increase income and expand businesses. Meanwhile, Sim said KUSKOP is always open to discussions with MSMEs facing cash flow problems or affected by economic crisis and disasters. He said this includes assistance through moratoriums and loan repayment rescheduling, which are part of the ministry’s efforts to support MSMEs. According to him, the non-performing loan (NPL) rate involving financing agencies under KUSKOP has also shown improvement over the past one to two years, with fewer borrowers defaulting on repayments. -- BERNAMA

GEORGE TOWN, May 24 — The Ministry of Entrepreneur Development and Cooperatives (KUSKOP) is mobilising four of its financing agencies to go to the ground and engage micro, small and medium enterprises (MSMEs) by providing advisory services and direct financing assistance. Its Minister, Steven Sim, said the four agencies are the National Entrepreneur Group Economic […]