Johor bahru: The Ministry of Entrepreneur and Cooperatives Development (KUSKOP), through SME Corp Malaysia, has launched the SINAR programme to assist micro, small, and medium enterprises (MSMEs) in navigating global economic challenges. The programme aims to provide financial assistance totalling RM205 million across four new initiatives to facilitate business expansion.

According to BERNAMA News Agency, Minister Steven Sim Chee Keong emphasized the importance of supporting MSMEs during uncertain economic times. He stated, "The government cannot allow MSMEs to confront these challenges alone. Through SINAR, we aim to ensure that entrepreneurs have access to the financing and support they need to survive, grow, and create employment opportunities." Sim was addressing reporters at the Empowering Malaysian Businesses Carnival held at the Angsana Johor Bahru Mall, with notable attendees including Deputy Minister Datuk Mohamad Alamin and KUSKOP Secretary-General Datuk Seri Khairul Dzaimee Daud.

Further details from Sim outlined that SINAR is a new initiative by KUSKOP, implemented through SME Corp Malaysia, and includes five new financial assistance initiatives. The programme offers three financing options with funding up to RM5 million, featuring profit or interest rates between 3% to 5% per annum, in collaboration with Malaysian Industrial Development Finance Bhd (MIDF), microLEAP PLT, and Funding Societies.

Sim also highlighted the Inclusive Business Scaling Programme, a capacity-building initiative offering grants covering up to 90% of costs for SMEs. This initiative aims to integrate inclusive communities into supply chains and assist micro-enterprises in developing skills for business transformation. To ease access, MSMEs interested in applying for financing only need to obtain MSME Status, an official certification confirming compliance with MSME definitions. Additionally, a 50% discount on MSME Status applications is available until August 31.