Kuala lumpur: The Ministry of Entrepreneur and Cooperative Development (KUSKOP) is extending an open invitation for complaints and lists of cooperatives that are encountering difficulties in receiving assistance or grants. This initiative aims to guarantee that all applications are reviewed with full transparency and thoroughness, ensuring that no community or small cooperative is left without access to government support.
According to BERNAMA News Agency, Deputy Minister Datuk Seri R. Ramanan emphasized the ministry’s commitment to addressing these concerns during the debate on the Supply Bill (Budget) 2026 for KUSKOP in the Dewan Negara. He encouraged Senators to bring forward any cases of cooperatives that have not received the necessary assistance, pledging to personally review and provide clarification on these matters. This step is part of a broader effort to strengthen cooperative governance and enhance the system of cooperative assistance.
In response to Senator Hussin Ismail’s concerns about community cooperatives struggling due to limited capital and management structures, Ramanan announced that the Malaysian Cooperative Commission (SKM) offers various support schemes. These include a collateral-free revolving capital fund of up to RM200,000 and matching grants of up to RM300,000, designed to support community cooperative activities. He also noted that closer monitoring is being implemented to ensure responsible use of these funds, which belong to cooperative members.
Additionally, KUSKOP is working to streamline the financing application process for micro, small, and medium enterprises (MSMEs) by leveraging digitalisation to reduce documentation and shorten approval periods. This includes initiatives from TEKUN Nasional, which now requires only four documents and has a seven-day approval process, and Amanah Ikhtiar Malaysia (AIM), which has expedited financing approvals to 16 working days through its digital platform.
Further measures include SME Bank’s introduction of online applications, Bank Rakyat’s reduction of SME financing approval periods to 14 days, and Pernas’s use of an end-to-end digital financing system. The Contractor Service Centre (PKK) has also reduced approval times from 34 to 26 days. Ramanan highlighted that the focus remains on ensuring entrepreneurs and cooperatives receive assistance more promptly, transparently, and with minimal bureaucracy.