Image credit: New Straits Times

KUCHING: The Companies Commission of Malaysia (SSM) has allocated RM1 million as business grant (BisGrant) to help new entrepreneurs in the state.

This was revealed by Deputy Chief Minister Datuk Amar Awang Tengah Ali Hassan who represented Chief Minister Datuk Patinggi Abang Johari Tun Openg to officiate at Online Networking Entrepreneurs (ONE) carnival at CityOne MegaMall yesterday.

He pointed out that the amount was part of the RM10 million allocation announced by Prime Minister Datuk Seri Najib Tun Razak last month as a business grant, to help the eligible entrepreneurs across the country.Initially, the allocation was RM5 million, but the amount was increased by Najib.

“With the increased amount announced by Najib, it is hoped that the state will get more because there are many entrepreneurs attending this carnival and many more out there who need financial assistance to start their business,” said Awang Tengah, who is also Minister of Industrial and Entrepreneur Development.

He pointed out that the grant would further help new small and medium entrepreneurs (SME)to succeed, adding that SMEs make up the bulk of business establishments in the state and nation.

According to him, 98 per cent of business establishments in the country are SMEs.

Awang Tengah also said that the Ministry of Industrial and Entrepreneur Development (MIED) was implementing various initiatives to increase the facility to promote the state SMEs.

Among them were Sarawak Product Pavillion in Kuala Lumpur to promote Sarawak’s services and products in Peninsular Malaysia and eventually overseas.MIED also set up Anjung Usahawan, collection centres and incubator centres like Borneo 744 in Pending,he added.

Meanwhile, Deputy Minister of Domestic Trade, Cooperatives and Consumerism Datuk Henry Sum Agong said the ministry, through SSM will ensure that more entrepreneurs from the state benefit from the allocation.He said the ministry will organise BizFair in the state to distribute the allocation to the eligible entrepreneurs.

At the function, SSM also presented its corporate tithe amounting to RM70,000.

Also present were Assistant Minister of E-Commerce Datuk Mohd Naroden Majais, Assistant Minister of Corporate Affairs Abdullah Saidol and SSM chief executive officer Datuk Zahrah Abdul Wahab Fenner.