SME Corp channels RM100mil to aid 20,700 MSMEs

SME Corp chief executive officer Rizal Nainy

PUTRAJAYA: SME Corporation Malaysia (SME Corp) has channelled RM100 million via the Micro Madani Strengthening Programme (Micro Madani) to help 20,700 entrepreneurs nationwide from the micro, small and medium enterprise (MSME) sector.

Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick said the programme offers financial assistance in the form of grants, loans and MSME-status vouchers.

At a press conference after launching the Micro Madani programme here today, he said online applications can be made via http://smecorp.gov.my/MIKROMADANI.

Among the main criteria is that these MSME companies must have less than five employees and an annual income not exceeding RM300,000, he said.

"MSME entrepreneurs will be able to get loan financing to meet working capital requirements, purchase machinery and equipment up to a maximum of RM200,000 at an interest rate as low as 2 per cent annually in collaboration with Malaysian Industrial Development Finance Bhd (MIDF).

"For MSME-status vouchers, entrepreneurs are eligible to receive financial assistance worth RM100 in the form of registration process fee," he said.

To meet the objectives of the Madani Micro programme, Ewon said SME Corp will monitor the activities of all recipients to ensure the funding is used for its intended purpose.

Meanwhile, SME Corp chief executive officer Rizal Nainy said promotional tours will be organised nationwide starting Sept 22 in Kuantan, Pahang and conclude in Kota Kinabalu, Sabah on Oct 17.

Optimistic that the programme will receive an encouraging response, Rizal said SME Corp will continue to support MSME entrepreneurs to lift the sector's capabilities to a higher level to boost contributions to the national economy.

The MSME sector recorded an encouraging 11.6 per cent growth in 2022 against 1.3 per cent in 2021. - Bernama