August 31, 2026

New Malaysia Times

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KUSKOP to Fast-Track RM1 Billion Additional Microcredit Disbursement for MSMEs, Says Steven Sim

KUSKOP microcredit funds MSMEs Steven Sim

SERDANG, Aug 31 — The Ministry of Entrepreneur Development and Cooperatives (KUSKOP) will expedite the disbursement of an additional RM1 billion in microcredit funds to micro, small, and medium enterprises (MSMEs), following Prime Minister Datuk Seri Anwar Ibrahim’s announcement yesterday, according to Minister Steven Sim.

Sim also stated that the additional allocation brings this year’s total microcredit funding facility to RM6 billion, up from RM5 billion. Key implementing agencies involved in distributing the additional funds include Amanah Ikhtiar Malaysia (AIM) and TEKUN Nasional, with KUSKOP actively working to accelerate the rollout to assist small businesses grappling with rising operational costs.

Speaking to reporters after officiating the KUSKOP Business Malaysia Hub at the Malaysia Agriculture, Horticulture and Agrotourism Exhibition (MAHA) 2026 at MAEPS today, Sim highlighted that microcredit agencies offer simplified application procedures and accommodating requirements tailored specifically for micro and small entrepreneurs.

“Including the announcement to raise the e-invoice threshold from RM1 million to RM3 million, this is especially important for MSMEs. Based on data from the Finance Ministry, I see that it will benefit over one million companies in this category,” Sim said.

Sim also welcomed the government’s decision to increase subsidised RON95 and diesel fuel quotas under the BUDI MADANI programme, describing the adjustment as the best “Merdeka gift” for Malaysians—particularly those in the MSME sector who rely heavily on their vehicles to earn a living.

NMT