Allocation For SPUMI Funds Increased To RM50 Million This Year - Steven Sim

KUALA LUMPUR, Jan 28 (Bernama) -- The government is strengthening support for the Indian community’s business ecosystem by increasing the allocation for the Indian Community Entrepreneur Financing Scheme (SPUMI) from RM30 million to RM50 million this year.

Minister of Entrepreneur and Cooperative Development Steven Sim Chee Keong said the additional funding reflects the government’s commitment to expanding access to capital in line with the ministry’s ABCD strategy.

He said that, as of 2026, SPUMI has channelled RM4.089 million to 136 entrepreneurs among the Indian community nationwide.

“Through this initiative, the Ministry of Entrepreneur and Cooperative Development (KUSKOP) remains committed to providing broader access to capital in line with the ABCD strategy that we have introduced,” he told a press conference at the Parliament Media Centre today.

Meanwhile, Sim said the ministry will mobilise 200 Wira KUSKOP volunteers in George Town, Penang, for the KUSKOP MADANI Programme to be held in conjunction with Thaipusam 2026 on Feb 1 to assist with crowd management and provide support to those in need.

He said the volunteers, comprising youths aged between 17 and 30 from various racial backgrounds, will assist senior citizens, children and persons with disabilities (PwDs) throughout the celebration.

“In addition to volunteer services, the ministry will also provide free rest facilities at the main KUSKOP MADANI tent, which can accommodate up to 200 people at a time.

“These facilities are intended for frontline workers, senior citizens, mothers, children, PwDs, and devotees who are tired or unwell,” he said.

He added that nine agencies under KUSKOP, including TEKUN Nasional, Amanah Ikhtiar Malaysia (AIM), Bank Rakyat and SME Corp Malaysia, are also participating through service booths offering training advisory services, entrepreneurship guidance and entrepreneur registration to the public.

-- BERNAMA