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.
Minister Steven Sim said the increase in allocation brings this year’s total microcredit funding to RM6 billion, up from RM5 billion.
“Among the agencies involved in this additional RM1 billion are Amanah Ikhtiar Malaysia (AIM) and Tekun Nasional. We will work to speed up the disbursement of the promised funds,” he said.
He was speaking to reporters after officiating the Kuskop Business Malaysia Hub at the Malaysia Agriculture, Horticulture and Agrotourism Exhibition (MAHA) 2026, Malaysia Agro Exposition Park (Maeps) here today.
Yesterday, Anwar, who is also finance minister, announced the additional RM1 billion in micro financing facilities and said the government had agreed to raise the e-invoice exemption threshold from RM1 million to RM3 million annually.
Anwar said the extra funding was aimed at assisting small businesses grappling with rising costs and to support their expansion.
Elaborating further, Sim said the announcement was certainly welcome news for the MSME sector, particularly small and micro businesses.
“This is because microcredit not only provides financial support, but these microcredit agencies are also generally more accommodating to micro and small businesses in terms of requirements, simplifying processes and so on.
“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,” he said.
He also described the increase in RON95 and diesel quotas as the best “Merdeka gift” for Malaysians, particularly those in the MSME sector who rely heavily on their vehicles to earn a living. — Bernama
