SAMENTA praises the RM80 billion SME support package, urging quick fund disbursement and tiered rental tax to aid businesses facing compliance challenges.
KUALA LUMPUR: The Small and Medium Enterprises Association of Malaysia (SAMENTA) has welcomed the government’s comprehensive support package valued at nearly RM80 billion for SMEs.
SAMENTA national president Datuk William Ng said the package is a critical injection of liquidity and a buffer against rising compliance costs.
He expressed appreciation to the Prime Minister and the Entrepreneur Development and Cooperatives Minister for the 10 major initiatives announced.
Ng proposed several measures to ensure the policies achieve maximum impact on the ground.
He called for an industry-led effort to produce certified officers in occupational safety, data, and environmental, social and governance.
This would prepare SMEs for transformation into the artificial intelligence and circular economy, he said.
Ng welcomed the RM1.5 million threshold for rental tax but encouraged a tiered approach for retailers and construction firms.
He said this is crucial for sectors where revenue is high but net margins are razor-thin.
SMEs operating within shopping malls whose landlords surpass the threshold should also be exempted to ensure a level playing field, he added.
Ng hoped the additional RM2.5 billion in financing would be disbursed quickly and transparently.
The funds should be accessible to SMEs, including the 50% who have never received financing before, without bureaucratic hurdles, he said.
“The criteria should be clean and transparent, so there is no room for the financial institutions distributing these funds to interpret them differently,” Ng stated.
He said there should be no requirement for funds to go only to SMEs with certain ratings, as different businesses have different needs.
Entrepreneur Development and Cooperatives Minister Steven Sim described the announcements as practical and strategic measures.
He said the initiatives, valued at nearly RM80 billion, provide immediate relief to micro, small and medium enterprises nationwide.
Sim stated the package serves as a support injection for the MSME sector, particularly in enhancing cash flow liquidity and ensuring business continuity.
