logo
New Sabah MSME hub opens as one-stop centre for entrepreneurs

New Sabah MSME hub opens as one-stop centre for entrepreneurs

Daily Express03-05-2025
Published on: Saturday, May 03, 2025
Published on: Sat, May 03, 2025
By: Sisca Humphrey Text Size: PENAMPANG: The official opening of SME Corp Malaysia's new office and the Sabah Micro, Small and Medium Enterprises (MSME) Hub on Saturday, marks another milestone in the Federal Government's commitment to empowering local entrepreneurs, particularly in the State. Minister of Entrepreneur and Cooperatives Development Datuk Ewon Benedick said the opening of the Sabah MSME Hub in Penampang was a historic moment and an initiative inspired by his own vision to provide facilities for the business community and aspiring entrepreneurs in the State. 'This hub will serve as a one-stop centre for MSMEs to receive business advisory services and information on government entrepreneurship programmes,' he said. He also emphasised that in 2024, a total of 10,035 MSMEs had visited SME Corp. Malaysia's physical hubs, with 2,607 visits recorded in the first quarter of 2025 alone. Ewon also announced the continuation of the BEEP Plus Programme this year, following its encouraging reception among MSMEs in Sabah and Sarawak. 'I'm very pleased with the results of this programme, which was created especially for micro-enterprises in East Malaysia. It aligns with the 'Look East Within the Country' policy that I introduced,' he said. He later presented RM841,099.97 in grants to 15 qualified Sabah-based MSMEs under the programme. * Read full report in tomorrow's print paper or log in or sign up for e-paper and premium online news access. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss.
Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Modi's tax overhaul to strain finances but boost image amid US trade tensions
Modi's tax overhaul to strain finances but boost image amid US trade tensions

The Sun

time14 minutes ago

  • The Sun

Modi's tax overhaul to strain finances but boost image amid US trade tensions

NEW DELHI: Indian Prime Minister Narendra Modi's deepest tax cuts in eight years will strain government revenues but are winning praise from businesses and political pundits who say they will bolster his image in an ongoing trade fight with Washington. In the biggest tax overhaul since 2017, Modi's government on Saturday announced sweeping changes to the complex goods and services tax (GST) regime which will make daily essentials and electronics cheaper from October, helping consumers and also companies like Nestle, Samsung and LG Electronics. At the same time, in his Independence Day speech on Friday, Modi urged Indians to use more goods made domestically, echoing calls from many of his supporters to boycott U.S. products after Donald Trump hiked tariffs on imports from India to 50% as of August 27. The tax cut plan comes with costs given GST is a major revenue generator. IDFC First Bank says the cuts will boost India's GDP by 0.6 percentage points over 12 months but will cost the state and federal government $20 billion annually. But it will improve weak stock market sentiment and bring political dividends for Modi ahead of a critical state election in the eastern state of Bihar, said Rasheed Kidwai, a fellow at New Delhi-based Observer Research Foundation. 'GST reduction will impact everyone, unlike cuts to income tax, which is paid by only 3%-4% of the population. Modi is doing this as he is under a lot of pressure due to U.S. policies,' said Kidwai. 'The move will also help the stock market, which is now politically important as it has a lot of retail investors.' India launched the major tax system in 2017 that subsumed local state taxes into the new, nationwide GST to unify its economy for the first time. But the biggest tax reform since India's independence faced criticism for its complex design that taxes products and services under four slabs - 5%, 12%, 18% and 28%. Last year, India said caramel popcorn would be taxed at 18% but the salted category at 5%, triggering criticism about a glaring example of GST's complexities. Under the new system, India will abolish the 28% slab - which includes cars and electronics - and move nearly all of the items under the 12% category to the lower 5% slab, benefitting many more consumer items and packaged foods. Government data shows the 28% and 12% tax slabs together garner 16% of India's annual GST revenue of roughly $250 billion last fiscal year. 'A brighter gift' and politics Bihar is a key state politically and goes to the polls by November. A recent survey by the VoteVibe agency showed Modi's opposition has an edge largely because of a lack of jobs. 'Any tax cut has wide public appreciation. But of course, the timing is purely determined by political exigencies,' said Dilip Cherian, a communications consultant and co-founder of Indian public relations firm Perfect Relations. 'It seems to be an indication of some mixture of frustration as well as recognition that there is a broad public pushback against high and crippling rates of taxation.' Modi's ruling Bharatiya Janata Party has seized on his tax announcement, posting on X that on the Hindu festival of lights, Diwali, 'a brighter gift of simpler taxes and more savings is waiting for every Indian.' Modi has vowed to protect farmers, fishermen and cattlemen, following Trump's surprise tariff announcement on India, after trade talks between New Delhi and Washington collapsed over disagreement on opening India's vast farm and dairy sectors and stopping Russian oil purchases. The latest round of trade talks between the two nations set for August 25-29 has also been called off - REUTERS

HLIB sees Sunway as prime domestic growth proxy, retains 'Buy' with RM5.90 target
HLIB sees Sunway as prime domestic growth proxy, retains 'Buy' with RM5.90 target

New Straits Times

time5 hours ago

  • New Straits Times

HLIB sees Sunway as prime domestic growth proxy, retains 'Buy' with RM5.90 target

KUALA LUMPUR: Hong Leong Investment Bank (HLIB) is doubling down on Sunway Bhd's growth prospects, reiterating its BUY call with a sum-of-parts (SOP) target price of RM5.90, underpinned by rising exposure to Malaysia's accelerating economic upcycle. The investment bank's bullish stance cements Sunway as a key proxy for Malaysia's growth story heading into 2026. HLIB said Sunway is well-positioned to capitalise on domestic momentum, with multiple catalysts on the horizon – from stronger-than-expected construction order book wins and a potential conversion of its Medini land to freehold status to the planned healthcare arm listing in early 2026, which could unlock substantial shareholder value. Over the longer term, HLIB expects Sunway's property segment to stay resilient, supported by healthy take-up from phased launches, strategic landbank expansion, and leverage to the Johor-Singapore Special Economic Zone (JS-SEZ), alongside steady progress in its Singapore-based projects. HLIB said the technical outlook for Sunway remains bullish. It noted that Sunway's share price has rebounded sharply from a double-bottom at RM4.00 (January 17) and RM3.93 (April 7), breaking above its 200-day moving average (RM4.65) to hit an all-time high of RM5.16 on July 18, before closing at RM4.74 on Monday. The investment bank sees the stockholding firm above the RM4.64 support level, with upside potential towards RM4.84, RM5.00, RM5.15, and RM5.32.

Sandakan showcases sustainable urban agenda at Asean Sustainable Urbanisation Forum
Sandakan showcases sustainable urban agenda at Asean Sustainable Urbanisation Forum

Daily Express

time6 hours ago

  • Daily Express

Sandakan showcases sustainable urban agenda at Asean Sustainable Urbanisation Forum

Published on: Sunday, August 17, 2025 Published on: Sun, Aug 17, 2025 By: David Thien Text Size: Head of the Urban Planning & Architecture Department at the Sandakan Municipal Council, Mohd Kazroy Nizam Sani. Kuala Lumpur: Sandakan was the sole representative from Sabah to present at the recent Asean Sustainable Urbanisation Forum (ASUF), held in conjunction with the Asean Governors and Mayors Forum (AGMF) and the 2025 Meeting of Governors and Mayors of Asean Capitals (MGMAC), from Aug 10 to 15 at the Kuala Lumpur Convention Centre (KLCC). Mohd Kazroy Nizam Sani, Head of the Urban Planning & Architecture Department at the Sandakan Municipal Council, delivered an engaging presentation titled 'Localising Global Goals Through Sandakan Sustainable Community Agenda 2023–2027' on the SDG Stage during the multi-day event. He highlighted how the Council overcame initial resistance to rejuvenate an alleyway, now transformed into 'Creative Lane Sandakan', a vibrant tourist attraction and part of the Heritage Walk Trail, featuring artistic murals on building walls. Mohd Kazroy also showcased community tourism initiatives involving local villages, citing Kampung Bambangan as a model of success, and commended Council President Walter Joseph Kinson for prioritising trading slots for youth entrepreneurs. He acknowledged vandalism issues at certain sites such as Taman Memorial Tun Abdul Razak, but noted that public cooperation has helped keep the situation under control. Sandakan's participation reflects its growing role as a forward-thinking urban centre ahead of its anticipated elevation to city status. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store