Kuala lumpur: The Ministry of Entrepreneur Development and Cooperatives (KUSKOP) has committed to accelerate the distribution of an additional RM1 billion in microcredit funds to micro, small, and medium enterprises (MSMEs), following the recent announcement by Prime Minister Datuk Seri Anwar Ibrahim.

According to BERNAMA News Agency, Minister Steven Sim emphasized that this increase in allocation elevates the total microcredit funding for the year to RM6 billion from the previous RM5 billion. "Among the agencies involved in this additional RM1 billion are Amanah Ikhtiar Malaysia (AIM) and TEKUN Nasional. We will work to speed up the disbursement of the promised funds," said Sim.

Sim made these remarks while addressing reporters after inaugurating the KUSKOP Business Malaysia Hub at the Malaysia Agriculture, Horticulture and Agrotourism Exhibition (MAHA) 2026, held at the Malaysia Agro Exposition Park (MAEPS).

Prime Minister Anwar, who also holds the position of Finance Minister, announced the additional RM1 billion in micro financing facilities. He stated that the government had agreed to raise the e-invoice exemption threshold from RM1 million to RM3 million annually, a move aimed at supporting small businesses facing rising costs and aiding their expansion.

Sim elaborated that the announcement is beneficial for the MSME sector, particularly small and micro businesses. He highlighted that microcredit offers not only financial support but also more accommodating requirements and simplified processes through these agencies.

Additionally, the revised e-invoice threshold is significant for MSMEs, with data from the Finance Ministry indicating benefits for over one million companies in this sector. Sim also acknowledged the increase in RON95 and diesel quotas as a significant benefit for Malaysians, especially those in the MSME sector reliant on vehicles for their livelihood.