29 MSME entrepreneurs in Sabah received financing of RM19 million from SME Bank, as of March 2024: Ewon

27 May 2024

KOTA KINABALU: Twenty six applications involving financing of RM19 million for micro, small, and medium enterprises (MSMEs) in Sabah, was approved by SME Bank, an agency under the Ministry of Entrepreneur Development and Cooperatives (MEDAC), as of March this year.

Minister of Entrepreneur Development and Cooperatives Datuk Ewon Benedick said that last year, SME Bank approved financing for 118 MSME entrepreneurs in Sabah involving a total financing of RM162 million.

"I believe that part of SME Bank's success in nurturing many MSME entrepreneurs in Sabah is a result of the Jom Xcess programmes held last year.

The Jom Xcess programme in the Sabah Region promote financing programmes and entrepreneurship training programmes provided by SME Bank and its subsidiary, CEDAR.

"Additionally, it aims to help strengthen Sabah's economic ecosystem," he said when met by reporters after officiating the Jom Xcess Program by SME Bank at the Sabah Regional Centre, Pacific Sutera Hotel, here today.

During the event, Ewon presented a contribution of RM420,000 from SME Bank for the development of 30 asnaf entrepreneurs in Sabah.

Ewon mentioned that overall, SME Bank has assisted a total of 449 asnaf entrepreneurs nationwide, with 42 individuals in Sabah.

"This shows that SME Bank is not only developing small and medium entrepreneurs but also developing asnaf B40 entrepreneurs so that they can transition from zakat recipients to zakat contributors when developed through the I-Tekad programme by SME Bank," he said.

Also presented at the event was an appreciation award to a customer of SME Bank. The recipient was Rosmie Snack Industri Sdn. Bhd.

Rosmie, a participant of the Business Export Programme (BEP), successfully penetrated the markets of Japan and Brunei in 2023. She achieved a sales increase of 23 percent for the year 2023 compared to 2022.

Also present were Deputy Secretary-General of the Ministry of Entrepreneur Development and Cooperatives Datuk Zamri Salleh, Chairman of SME Bank Dato’ Muslim Hussain, and the Group President and Chief Executive Officer of SME Bank Datuk Wira Aria Putera Ismail.