SME Bank To Channel RM2.8 Bln Into Enterprise Development Under Budget 2027

KUALA LUMPUR, Oct 20 (Bernama) -- Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank) welcomes approximately RM2.8 billion mandate received under Budget 2027 to strengthen Malaysian enterprises across seven priority sectors.

SME Bank, a subsidiary of Bank Pembangunan Malaysia Bhd Group (BPMB Group), said the initiatives will strengthen sectors including entrepreneur development, tourism, sustainability, high-growth and high-value industries, transportation and logistics, infrastructure, and export empowerment.

Its chief executive officer Samad Majid Zain said Budget 2027 opens new opportunities for Malaysian enterprises via about RM2.8 billion in strategic initiatives entrusted to SME Bank, forming part of the more than RM7 billion mandated by the government to BPMB Group.

“These initiatives reflect the emphasis on productivity, sustainability and economic reform within the Budget 2027’s overall allocation of approximately RM510 billion,” he said in a statement.

Building on this direction, he said SME Bank will draw on BPMB Group’s collective capabilities to help enterprises adopt technology, operate sustainably, improve productivity, and expand their markets, supporting the Ministry of Entrepreneur and Cooperatives Development mandate to advance Malaysian entrepreneurship.

“In line with Bank Negara Malaysia’s performance measurement framework, we will prioritise measurable development impact, additionality and effective delivery, helping businesses become more competitive, create jobs and contribute to stronger communities,” he said.

-- BERNAMA