The People’s Industry and Business Support Programme (SINAR) was launched by the Ministry of Entrepreneur and Cooperative Development (KUSKOP) and SME Corp. Malaysia to assist micro, small, and medium-sized enterprises (MSME).
Its minister, Steven Sim Chee Keong, stated that the SINAR Programme will provide RM205 million in financial assistance to MSMEs nationwide through four new initiatives to help them expand their businesses.
“In an uncertain global economic climate, the government cannot leave SMEs to face this challenge alone.”
“Through SINAR, we want to ensure that entrepreneurs have access to the financing and support they need to survive, grow and create job opportunities,” he said to reporters at the Malaysia Business Carnival’s Closing Ceremony at Angsana Johor Bahru Mall.
Datuk Seri Khairul Dzaimee Daud, KUSKOP Secretary-General, and Datuk Mohamad Alamin, Deputy Minister of Entrepreneur and Cooperative Development, were also in attendance.
He went on to explain that SINAR is a new KUSKOP programme offered by SME Corp Malaysia that includes five new financial assistance initiatives.
According to him, three financing programmes are available with a total financing of up to RM5 million at a profit or interest rate of three to five percent per year through collaboration with Malaysian Industrial Development Finance Berhad (MIDF), microLEAP PLT, and Funding Societies.
“In addition to financing, the Inclusive Business Scaling Programme is a capacity development programme that offers grants of up to 90% to SMEs.
“This is to integrate inclusive communities into their supply chains while also assisting micro-enterprises in improving relevant skills for higher-level business transformation,” he explained.
To facilitate access to this initiative, he said that SMEs applying for financing only need to obtain the MSME status, which is an official certification that confirms that a business meets the definition of an MSME.
According to him, a 50% discount for MSME status applications is also being offered starting this month until 31st August 2026.
