GEORGE TOWN: A total of RM4bil under the government’s RM15bil “PowerUp 10K” financing target for the micro-, small- and medium-sized enterprises (MSME) sector has benefited more than 150,000 companies and business entrepreneurs as of April, said Entrepreneur and Cooperatives Development Minister Steven Sim.
“One of our key performance indicators this year is to channel RM15bil from the ministry into the MSME sector,” he said to reporters after attending a Jualan Madani Koperasi and family carnival programme here yesterday.
Sim also revealed that his ministry will soon launch a portal to allow the public to track the disbursement of loans towards the RM15bil target, including updates on the amount disbursed and the agencies involved.
“We will update the portal so people know how much of the RM15bil has been released, and which agencies have disbursed the funds,” he said.
Sim said the one-stop portal will also include access to information related to financing, training, and various government support programmes.
He said agencies under the ministry, including Tekun Nasional, Amanah Ikhtiar Malaysia, SME Bank, and Bank Rakyat, continue to play a key role in supporting MSME operators and cooperatives.
Sim said the government was also taking a proactive approach by bringing the financing agencies directly to the people through programmes such as Jualan Madani Koperasi.
“We do not wait for customers to come to our offices. We go to the ground to meet entrepreneurs, small traders, and MSME operators to provide assistance directly,” he said.
Sim added that the government was not only focused on providing financing, but also on capacity-building and financial management support for small business operators.
He said the ministry has introduced measures such as moratoriums and loan restructuring assistance for borrowers affected by issues such as cash flow problems, global supply disruptions, and natural disasters.
He noted that non-performing loans among borrowers had shown improvement over the past one to two years, with fewer cases of repayment defaults recorded.
Earlier, Sim officiated the Jualan Madani Koperasi and family carnival programme at Persiaran Karpal Singh.
He said about 80 types of daily necessities were offered at discounts of up to 20% during the programme, with prices further reduced to 30% during a “happy hour” promotion which was announced earlier during the day.
Present at the event were Sungai Pinang assemblyman and state welfare committee chairman Lim Siew Khim and Sungai Puyu assemblyman Phee Syn Tze.
