YB Mr Steven Sim Chee Keong, Minister of Entrepreneur Development and Cooperatives (KUSKOP), has welcomed the announcement by Bank Negara Malaysia regarding the RM5 billion SME Stabilisation Relief Facility (SME SRF). The facility is aimed at supporting Micro, Small and Medium Enterprises (MSME) affected by global supply disruptions stemming from the ongoing West Asia conflict.
The announcement comes in conjunction with his meeting earlier today with the Governor of Bank Negara Malaysia, YBhg Dato’ Sri Abdul Rasheed Ghaffour, where both parties discussed the strategic role of the central bank and financial institutions in strengthening the MSME ecosystem, particularly amid current economic uncertainties.
During the meeting, both sides explored efforts to expand financing support for MSME, with YB Steven Sim emphasising the importance of improving access to credit and more inclusive financing, especially for new entrepreneurs and first-time borrowers.
The discussion also covered the potential of hybrid or blended financing approaches, combining the strengths of the financial sector and capital markets to better support MSME growth and scaling.
YB Steven Sim stressed that addressing current challenges requires an “all hands on deck” approach, involving the government, financial institutions, the banking sector, and the broader entrepreneurship ecosystem, in line with KUSKOP’s mission to “Empower Malaysian Businesses.”
He reaffirmed KUSKOP’s commitment not only to ensure that local businesses remain resilient in the face of global economic pressures linked to the West Asia conflict, but also to seize opportunities to grow, enhance productivity, and scale to the next level.
As of March 2026, total financing to MSMEs by banking institutions and Development Financial Institutions (DFIs) has reached RM443.8 billion, accounting for nearly 51 percent of total business loans, providing a strong foundation to be further strengthened through continued support.
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