Tag: Steven Sim

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 Bank Approves RM1 Million Financing for Local Manufacturer, Boosting Business Growth

KUALA LUMPUR, March 30 — A local manufacturing company, Seng Fatt Metal Manufacturing, has received a RM1 million financing approval from SME Bank, providing a significant boost to its expansion plans. The funding was announced during a recent visit by a government representative, who personally delivered the good news to the company’s owner, Mr Sim. The entrepreneur expressed surprise at the swift and smooth approval process, highlighting improved access to financing for small and medium enterprises (SMEs). Starting from a modest shop lot, the family-run business has grown into three manufacturing facilities, employing a diverse Malaysian workforce comprising Malay, Chinese, and Indian employees. With the third plant nearing completion, the additional capital is expected to support further expansion and operational needs. The development comes amid broader government efforts to strengthen the SME sector during challenging global economic conditions. In the past two months alone, nearly RM4 billion in initiatives and financial support have been announced to assist Malaysian businesses, including small traders, unemployed individuals, and SME entrepreneurs. Authorities reiterated their commitment to empowering local businesses, stressing that continued support for SMEs remains a key priority in driving economic resilience and growth.

KUALA LUMPUR — A local manufacturing company, Seng Fatt Metal Manufacturing, has received a RM1 million financing approval from SME Bank, providing a significant boost to its expansion plans. The funding was announced during a recent visit by a government representative, who personally delivered the good news to the company’s owner, Mr Sim. The entrepreneur […]

PH–Perpaduan Cooperation Seen as Strongest Strategy Ahead of State Polls

GEORGE TOWN, March 30 — Cooperation between Pakatan Harapan (PH) and parties under the Unity Government framework is viewed as the most effective and practical approach in facing the upcoming state elections (PRN). The collaboration is considered crucial in preventing vote fragmentation, which could lead to the loss of key seats and ultimately benefit opposition parties. Political observers note that a unified front would strengthen electoral positioning and improve chances of retaining power in several states. Despite differing views among component parties, the stance in Penang remains clear — unity is key to gaining public trust and support. Leaders believe that working together under a common platform will enhance stability and ensure continued voter confidence ahead of the polls.

BUKIT MERTAJAM — Cooperation between Pakatan Harapan (PH) and parties under the Unity Government framework is viewed as the most effective and practical approach in facing the upcoming state elections (PRN). The collaboration is considered crucial in preventing vote fragmentation, which could lead to the loss of key seats and ultimately benefit opposition parties. Political […]

‘Hebatkan Perniagaan Malaysia’ Main Focus Of First 100 Days In KUSKOP – Steven Sim

KUALA LUMPUR, March 27 (Bernama) — Entrepreneur Development and Cooperatives Minister Steven Sim Chee Keong has placed “Hebatkan Perniagaan Malaysia” as the central thrust of his first 100 days leading the Entrepreneur Development and Cooperatives Ministry (KUSKOP), highlighting a series of key achievements aimed at strengthening the nation’s business landscape. Sim said the ministry’s early progress includes expanding access to financing, empowering micro, small and medium enterprises (MSMEs), and enhancing the national entrepreneurial ecosystem. “A hundred days in KUSKOP together with Malaysian entrepreneurs. Thank you KUSKOP staff, you delivered. I have only a single focus: Hebatkan Perniagaan Malaysia. We want to ‘Power Up’ Malaysian businesses, regardless of race and religion — Power Up, Jalan Teruih!” he said in a Facebook post today. Among the highlights, financing for Bumiputera entrepreneurs under Tabung Ekonomi Kumpulan Usaha Niaga Nasional (TEKUN Nasional) was increased from RM300 million to RM500 million. A new RM100 million financing scheme was also introduced through SME Bank and Bank Rakyat to support Chinese MSMEs. Additionally, funding for Indian entrepreneurs under the Indian Community Entrepreneur Development Scheme was raised from RM30 million to RM50 million. The minister also rolled out targeted financing initiatives, including the RM50 million Ramadan dan Perniagaan Rakyat Financing Scheme (BARAKAT) for Bumiputera MSMEs, the RM30 million Chinese-owned Micro Entrepreneur Special Financing Programme (BERKAT) for Chinese New Year, and the RM3 billion Women Entrepreneur Economy Fund (DEWI), which is expected to benefit 300,000 women entrepreneurs nationwide. On the international front, a business agreement worth RM2 billion was secured during the Makkah Halal Forum 2026, while participation in Japan Foodex generated RM90 million in sales. Efforts to strengthen the cooperative sector were also intensified, with RM254 million allocated — the highest in history — alongside the introduction of the Business School Malaysian Skill Certificate (SKM) to transform school cooperatives into business learning platforms for students. — MinutesMY / Igneseous Noris — PHOTO: FB Steven sim

KUALA LUMPUR, March 27 (Bernama) — Entrepreneur Development and Cooperatives Minister Steven Sim Chee Keong has placed “Hebatkan Perniagaan Malaysia” as the central thrust of his first 100 days leading the Entrepreneur Development and Cooperatives Ministry (KUSKOP), highlighting a series of key achievements aimed at strengthening the nation’s business landscape. Sim said the ministry’s early […]

Claims Of Bukit Mertajam Hospital Relocation Untrue – Board Of Visitors

GEORGE TOWN — Claims that Bukit Mertajam Hospital will be relocated to avoid disturbing a temple have been dismissed as false and defamatory by the hospital’s Board of Visitors. In a statement, the board clarified that a visit by Steven Sim in September 2025 focused solely on upgrading hospital facilities and did not involve any temple-related discussions. The board stressed that there are no plans to relocate the hospital, but instead a proposal to construct an additional building to accommodate increasing patient numbers, including those from nearby districts such as Kulim. The project, supported by the Penang state government with the allocation of eight acres of land, is currently undergoing approval by the Ministry of Health Malaysia. The board also warned that the viral social media claims contain elements of racial and religious incitement that could disrupt social harmony, and urged authorities to investigate the source and take appropriate legal action. It reiterated that the hospital serves all communities regardless of race or religion, and that all development plans are aimed at improving public healthcare services.

GEORGE TOWN — Claims that Bukit Mertajam Hospital will be relocated to avoid disturbing a temple have been dismissed as false and defamatory by the hospital’s Board of Visitors. In a statement, the board clarified that a visit by Steven Sim in September 2025 focused solely on upgrading hospital facilities and did not involve any […]

KUSKOP Channels RM1.03 Million To Strengthen Cooperatives In Penang

BUKIT MERTAJAM, March 13 (Bernama) — The Ministry of Entrepreneur and Cooperative Development (KUSKOP) has channelled RM1.03 million in assistance and contributions to strengthen the role of cooperatives in driving the people’s economy in Penang. Its minister Steven Sim Chee Keong said the aid, disbursed through the Cooperatives Commission of Malaysia (SKM), is aimed at […]

Two Ministers Raise Issues of Religious, Racial Provocations at Today’s Cabinet Meeting

KUALA LUMPUR — Minister of Entrepreneur Development and Steven Sim Cooperative and Human Resources Minister Datuk Seri R. Ramanan will raise the issue of religious and racial provocation at today’s Cabinet meeting. Sim, in a Facebook post yesterday, said it was time for all forms of religious and racial violence and provocation to be completely […]