KUALA LUMPUR, 8 Oct 2025 — The Ministry of Entrepreneur Development and Cooperatives (KUSKOP) continues to strengthen the functions of its agencies as key drivers of people-centered economic growth through faster, more transparent, and efficient financing initiatives under the leadership of Datuk Ewon Benedick.
According to Ewon, these efforts align with the Public Service Reform Agenda (ARPA), which focuses on reducing bureaucratic red tape and improving the delivery of services to micro, small, and medium enterprises (MSMEs).
“The agencies under KUSKOP are not merely channels for financial aid; they are enablers of an inclusive economic ecosystem that empowers more entrepreneurs to start and grow their businesses,” he said during the oral question session in Parliament today.
Responding to Dato’ Sri Saifuddin Abdullah (Indera Mahkota), who asked about measures to improve grant and loan application processes for new Bumiputera entrepreneurs, Ewon explained that various reforms had been implemented across KUSKOP agencies to streamline procedures and reduce documentation requirements.
For instance, TEKUN Nasional has simplified its application process by cutting documentation requirements from 17 to just four basic documents, while shortening approval periods from 21 to 7 working days.
Meanwhile, Amanah Ikhtiar Malaysia (AIM) has introduced a more applicant-friendly approach by requiring only a copy of the MyKad, without the need for Companies Commission of Malaysia (SSM) registration, and processing complete applications within 16 working days.
To enhance digital efficiency, SME Corp Malaysia has developed the MSME Rating & Incentive Integrated System (MyBPI), allowing young entrepreneurs to apply for and claim benefits under the Tunas Usahawan Belia Bumiputera (TUBE) programme entirely online.
Ewon also highlighted the growing digital transformation among KUSKOP’s financial agencies.
SME Bank, he said, has introduced a fully online application process that includes direct communication channels for advisory and guidance throughout the financing process.
“PERNAS has developed the E2E S3P Financing System for more efficient and transparent digital fund management, while Bank Rakyat has launched the Quick Response to Entrepreneurs (QR2E) platform to make it easier for new entrepreneurs to access business financing and other banking products,” he added.
Ewon emphasized that these initiatives demonstrate KUSKOP’s evolution beyond being merely a funding ministry — positioning it as an economic catalyst that bridges government policy with the real needs of entrepreneurs on the ground.
“As of 31 August 2025, a total of 64,179 new Bumiputera entrepreneurs have received RM743.86 million in financing through KUSKOP agencies including TEKUN Nasional, SME Corp, AIM, SME Bank, PERNAS, and Bank Rakyat,” he said.
Ewon added that under his leadership, KUSKOP remains focused on building an entrepreneurial support system that is agile, inclusive, and results-oriented, ensuring that Bumiputera and youth entrepreneurs continue to play a vital role in driving Malaysia’s economic growth.