The Ministry of Entrepreneur Development and Cooperatives (KUSKOP) has channelled almost RM9 billion under its Power Up 10K initiative to assist about 250,000 micro, small and medium enterprise (MSME) entrepreneurs nationwide as of July.
Minister Steven Sim said the allocation is part of KUSKOP’s target to inject at least RM15 billion into the MSME sector throughout 2026.
“By the end of July, we have successfully channelled almost RM9 billion to nearly 250,000 entrepreneurs nationwide,” he said at the Muslim Economic Development Agenda (APEM) 3.0 Convention today.
He said the funding was expected to benefit recipients directly while also supporting wider economic activity as the money circulates through supply chains and markets.
In addition to the Power Up 10K initiative, KUSKOP has introduced the Malaysian Indian Entrepreneur and Economic Stimulus (MUDRA) programme this year. Under the initiative, 5,000 Indian entrepreneurs have received financing totalling RM100 million.
Sim said the ministry was also focusing on making it easier for entrepreneurs, particularly small businesses, to access information on available financing and government assistance. Its Hebatkan Perniagaan Malaysia portal currently lists about 140 financing schemes offered by KUSKOP and other ministries and agencies.
To further widen access to funding, the allocation for TEKUN Nasional financing has been increased from RM300 million to RM1 billion this year. Sim said entrepreneurs can now apply for TEKUN financing online, a move introduced for the first time in the agency’s 30-year history.
He also urged the organisers of APEM 3.0, the Penang Muslim League, to strengthen cooperation with government agencies, financial institutions, the cooperative sector and industry players so that the convention’s resolutions can be translated into concrete programmes and business opportunities.
