MEDAC’s continues collateral-free financing for women, youth entrepreneurs
KUALA LUMPUR: Agencies under the Ministry of Entrepreneur Development and Cooperatives (MEDAC) have provided various assistance and financing initiatives without collateral to help women and youth entrepreneurs, including young people, to start and expand businesses, said Entrepreneur Development and the Cooperatives Minister Datuk Ewon Benedick. He said that in 2022, TEKUN has channelled an allocation […]
Medac’s special committee to assist SMEs affected by Covid-19
KUALA LUMPUR: The Ministry of Entrepreneur Development and Cooperatives (Medac) will set up a special committee to assist small and medium enterprises (SME) entrepreneurs affected by the Covid-19 pandemic. Its minister, Tan Sri Noh Omar said the ministry would ensure that all assistance and allocations are coordinated via the special committee. “The committee will be […]
Applications For SPIN 2.0, CBRM 2.0 financing schemes open Aug 15
PUTRAJAYA: Micro-businesses affected by the Covid-19 pandemic can start applying for financing under the Informal Financing Scheme (SPIN) 2.0 and Covid Business Recovery Financing Scheme (CBRM) 2.0, from Aug 15. Entrepreneur Development and Cooperatives Minister, Datuk Seri Dr Wan Junaidi Tuanku Jaafar, said that a total of RM100 million was allocated for the implementation of […]
More B40 entrepreneurs to benefit from RAKYATpreneur 2.0 programme
KUALA LUMPUR: Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) has launched the RAKYATpreneur 2.0 programme today; a social financial initiative to help asnaf entrepreneurs by equipping them with skills and knowledge needed to expand their business. Launched by Entrepreneur Development and Cooperatives (MEDAC) Minister Datuk Seri Wan Junaidi Tuanku Jaafar, the six-month long programme, which […]
Enhanced SOPs to allow businesses to operate
KUCHING: The Ministry of Entrepreneur Development and Cooperatives (Medac) had submitted an enhanced health standard operating procedure (SOP) proposal to the government. This is to help speed up the opening of the Micro, Small and Medium Enterprises (MSME) sector, particularly the FCLO (First to Close Last to Open) category, safely. The proposal was presented by […]
Medac allocates RM230 mln for new Cooperative Commission revolving capital fund products
PUTRAJAYA: The Ministry of Entrepreneur Development and Cooperatives (Medac) through the Cooperative Commission of Malaysia (SKM) has allocated RM230 million for the implementation of new products under the Revolving Capital Fund of SKM (TMPSKM). Its Minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar said a total of 14,629 cooperatives with a membership of almost 6.5 […]
Medac extends SKM revolving capital fund moratorium facility until November
KUALA LUMPUR: The Ministry of Entrepreneur Development and Cooperatives (Medac) through the Cooperative Commission of Malaysia (SKM) has extended the deferment period of repayment facility for the Malaysian Cooperative Commission Revolving Capital Fund (TMPSKM) until November 2021. Medac said in a statement today that previously the ministry only offered a moratorium facility for three months […]
Seek help from ministry, not Ah Long
KUCHING: The federal Ministry of Entrepreneur Development and Cooperatives (Medac) has called on micro businesses to reach out to its agency Tekun Nasional for hassle-free financing assistance. Minister Datuk Seri Wan Junaidi Tuanku Jaafar said he was concerned about reports that many entrepreneurs were turning to loan sharks instead of going to the designated government […]
Over 500k MSMEs at risk of closure if not allowed to operate
KUCHING: It is estimated that 580,000 businesses, representing 49 per cent of the micro, small and medium enterprises (MSME) in the country, are at risk of closure by October if they are not allowed to operate by then. Federal Entrepreneur Development and Cooperatives (Medac) Minister Datuk Seri Wan Junaidi Tuanku Jaafar said this was following […]
Hotline for entrepreneurs suffering from mental and emotional distress
KUCHING: A hotline—ADU@MEDAC— has been set up by the federal Entrepreneur Development and Cooperatives Ministry (Medac) to assist entrepreneurs suffering from mental and emotional distress due to the prolonged lockdown. The 1-300-88-1020 hotline operates from 9am to 9pm, and those who call for advice on business and financial- related matters will be passed to the […]
