Kuala lumpur: The Bumiputera financing fund under the National Entrepreneurial Group Economic Fund (TEKUN Nasional) has been increased from RM500 million to RM1 billion, announced Entrepreneur and Cooperatives Development Minister Steven Sim. The government decided to enhance the funding due to the encouraging response to the scheme, which had previously seen an increment from RM300 million to RM500 million.
According to BERNAMA News Agency, this enhancement is part of the PowerUp 10K KUSKOP initiative aimed at boosting Malaysian businesses. The initiative seeks to inject more funds into the micro, small, and medium enterprises (MSMEs) sector, alongside TEKUN Nasional, which plays a vital role under KUSKOP. Minister Sim emphasized that the increased funding is anticipated to assist entrepreneurs in expanding their businesses and navigating various global crises affecting the sector.
"With this RM1 billion, we will not only be able to help entrepreneurs face geopolitical and geoeconomic challenges but also help them to further expand their businesses," Minister Sim stated. The PowerUp 10K initiative by KUSKOP aims to assist MSMEs in scaling up in the face of global uncertainty. The government had previously allocated up to RM15 billion to support around 10,000 MSME companies, in line with efforts to empower the people's economy.
Furthermore, the government plans to channel the entire RM15 billion through KUSKOP agencies by 2026, benefiting 400,000 entrepreneurs and cooperatives nationwide. Minister Sim noted that the large allocation would empower TEKUN Nasional to continue playing an essential role in the agenda to empower the country's MSMEs. From January 1 to April 30 this year, TEKUN Nasional has already distributed around RM360 million to almost 20,000 MSME entrepreneurs.
During the TEKUN Nasional 2026 Appreciation Ceremony, Minister Sim celebrated the dedication and contributions of TEKUN Nasional members in empowering businesses in Malaysia. A total of five categories of awards were presented to 247 recipients, including the Jasamu Dikenang Award, the Loyal Service Award, the Excellent Service Award, the TEKUN Excellence Award, and the Achievement Award 2025. The event was attended by TEKUN Nasional chairman Datuk Abdullah Sani Abdul Hamid, Deputy Minister of KUSKOP Datuk Mohamad Alamin, and KUSKOP secretary-general Datuk Seri Khairul Dzaimee Daud.