SERDANG: The Entrepreneur Development and Cooperatives Ministry will expedite the disbursement of an additional RM1bil in microcredit funds to micro, small and medium enterprises (MSMEs) following Prime Minister Datuk Seri Anwar Ibrahim’s announcement, says minister Steven Sim (pic).
He said the increase in allocation brings this year’s total microcredit funding to RM6bil, up from RM5bil.
“Among the agencies involved in this additional RM1bil are Amanah Ikhtiar Malaysia and Tekun Nasional.
“We will work to speed up the disbursement of the promised funds,” Sim said.
He was speaking to reporters after launching the ministry’s Business Malaysia Hub at the Malaysia Agriculture, Horticulture and Agrotourism Exhibition (Maha) 2026, Malaysia Agro Exposition Park, here yesterday.
On Sunday, Anwar, who is also Finance Minister, announced the additional RM1bil in micro financing facilities, adding that the government had agreed to raise the e-invoice exemption threshold from RM1mil to RM3mil annually.
Anwar said the extra funding was aimed at assisting small businesses.
Sim said the announcement was certainly welcome news for the MSME sector, Bernama reported.
“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 RM1mil to RM3mil, the change 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 also described the increase in RON95 and diesel quotas as the best “Merdeka gift” for Malaysians, particularly those in the MSME sector.
On another matter, Sim said his ministry is targeting RM500,000 in sales at its HPMKUSKOP@Maha 2026 site during the Maha 2026 show.
This year, the ministry has been given one pavilion, “and we brought 66 companies as well as cooperatives and MSMEs to exhibit at Maha 2026”.
Sim described Maha 2026 as a meaningful programme and congratulated the Agriculture and Food Security Ministry under Datuk Seri Mohamad Sabu for its success.
