SME Corp. Malaysia, an agency under the Ministry of Entrepreneurship and Cooperative Development (KUSKOP) provided financial assistance in the form of grants of up to RM250,000 specifically for Bumiputera Sabah and Sarawak micro-enterprises.
The aid is one of the initiatives under the Micro MADANI Strengthening Program (Mikro MADANI) which is channeled through the Sabah and Sarawak Bumiputera Enterprise Enhancement Program (BEEP) plus with an allocation of RM10 million.
The Sabah State Level MADANI Micro Strengthening Program Tour Series and Briefing Session attended by more than 300 participants took place at the Shangri-La Hotel Tanjung Aru today (October 20).
In his speech, Tan Sri Bernard Giluk Dompok said, “Access to financing remains the main issue that plagues PMKS, especially micro enterprises. Therefore, SME Corp. Malaysia has introduced the MADANI Micro Program which provides financial assistance to micro enterprises in the form of grants and loans as well as vouchers through five main initiatives namely the Micro Business Grant (GPM), Micro Biz Financing (MBF), Micro Youth Business Grant @TUBE (Tunas Bumiputera Youth Entrepreneurs), BEEP Plus Sabah and Sarawak and PMKS Status Voucher”.
According to him, “Until September 2023, SME Corp. Malaysia has already certified the registration of 27,054 applicants with PMKS status and of this number, 2,628 PMKS (9.7%) are from Borneo, namely Sarawak (1,573) and Sabah (1,055)”.
Through the MADANI Micro Program, financial assistance in the form of vouchers worth RM100 is also provided for processing fees PMKS Status registration.
This initiative aims to verify the status of PMKS to ensure that the beneficiaries are from among micro enterprises.
Commenting further on the BEEP Plus Sabah and Sarawak initiative, Tan Sri Bernard Giluk Dompok said it was implemented specifically to help micro-enterprises, especially native Bumiputeras, through a matching grant of up to 70 percent of the project cost or a maximum of RM250,000 for the purpose of increasing capacity.
This includes procurement of machinery and equipment, improvement of product packaging, application of ICT & eCommerce, rental and renovation of business premises as well as implementation of promotional activities to increase sales and branding.
Rizal bin Nainy, CEO of SME Corp. Malaysia, on the other hand, said that applications for the MADANI Micro Program have been open since it was launched on September 20. Before Sabah, SME Corp. Malaysia has carried out a series of tours in the East, North and South Coast Regions of Peninsular Malaysia as well as in Sarawak. More information about the Mikro MADANI program as well as the online application facility can be accessed through the SME Corp website. Malaysia at the link http://smecorp.gov.my/MIKROMADANI.
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