Newly appointed Entrepreneur Development and Cooperatives Minister Steven Sim today introduced the ABCD framework to steer the ministry’s approach in strengthening Malaysia’s micro, small and medium enterprise (MSME) and cooperative ecosystem.
He said the framework focuses on four pillars, namely Accelerate productivity, Bureaucracy reduction, Capital accessibility and Develop market access as the ministry recalibrates support for businesses facing tighter conditions at home and abroad.
“Today, I outlined a strategy to focus the ministry’s entire efforts in driving the growth of the nation’s businesses,” he told reporters after his inaugural meeting with the ministry.
He said ABCD will guide how the ministry aligns its policies, programmes and legislation to better support entrepreneurs and cooperatives.
Sim also said the Cabinet reshuffle should not disrupt operations or slow down existing programmes.
“This is not a change of government, but a mid-term reshuffle within the same administration, and therefore there should not be any disruption to the ministry’s operations in welcoming a new minister and deputy minister,” he said.
On his first day, Sim announced three immediate decisions, including a six-month interest-free moratorium for MSMEs and cooperatives affected by floods nationwide.
The moratorium involves financing facilities from seven agencies under the ministry — the Malaysia Co-operative Societies Commission, SME Corp Malaysia, Tekun Nasional, Bank Rakyat, SME Bank, Perbadanan Nasional Bhd and Amanah Ikhtiar Malaysia.
He also said Bumiputera financing under Tekun will be increased from RM300 million this year to RM500 million in 2026, while funding for Indian entrepreneurs under the Skim Pembiayaan Usahawan Masyarakat India will be raised from RM30 million to RM50 million.
A new RM50 million financing scheme for Chinese MSMEs is scheduled to be introduced in January next year.
Sim also instructed the ministry’s top management to immediately review processes, procedures and costs faced by stakeholders, with the aim of shortening approval timelines and reducing compliance burdens.
Sim officially clocked in for his first day as Entrepreneur Development and Cooperatives Minister earlier today.
He arrived at the ministry at 9.10am and was welcomed by his deputy Datuk Mohamad Alamin, Bandar Kuching MP Kelvin Yii and ministry secretary-general Datuk Seri Khairul Dzaimee Daud, who previously worked with him at the Human Resources Ministry, before recording his attendance at the time clock.
Sim later interacted with ministry officers and staff before chairing his first meeting with senior officials.
He previously served as Human Resources Minister from December 2023.
The new appointment was announced on Tuesday following a Cabinet reshuffle by Prime Minister Datuk Seri Anwar Ibrahim in Putrajaya.
Sim has replaced Datuk Ewon Benedick, who stepped down ahead of the Sabah state election.
Source: https://themalaysianreserve.com/2025/12/18/sim-introduces-abcd-framework-on-first-day-at-entrepreneur-ministry/