KUALA LUMPUR, Feb 6 – Selangor DAP Socialist Youth (DAPSY) Chief Lee Wen Bin has described the Minister of Entrepreneur Development and Cooperatives, Datuk Seri Sim Chee Keong, as a "God of Wealth" (Caishen) for the Chinese business community, following the announcement of two major financing schemes within a single week.
In a statement, Lee noted that the timely rollout of these microfinancing initiatives serves as a "lifeline" for Chinese Small and Medium Enterprises (SMEs) and micro-businesses currently grappling with economic headwinds.
"Amidst the current economic slowdown, rising operational costs, and sluggish market demand, many Chinese SMEs and micro-entrepreneurs are facing tight cash flows and financing hurdles. These schemes are launched at a critical moment to alleviate liquidity pressures," Lee said.
He emphasized that Sim’s decision to provide these financing options just before the Lunar New Year is an encouraging and meaningful gesture for the business community.
"From his tenure at the Ministry of Human Resources to his current role at the Ministry of Entrepreneur Development and Cooperatives, Minister Sim’s performance has been exemplary. He consistently prioritizes the developmental needs of Chinese businesses and proactively pushes for beneficial policies, demonstrating a highly pragmatic leadership style," Lee added.
Lee further highlighted that under these two financing schemes, the loan application procedures have been simplified, with an expedited approval process to ensure business owners receive funds promptly.
"Minister Sim recently announced a RM30 million allocation through SME Corp Malaysia specifically for Chinese micro-businesses. With an approval turnaround time of just five to seven days, business owners can secure capital before the New Year. This is a clear testament to the government’s efficiency and sincerity in supporting Chinese enterprises," he said.
Lee concluded by stating that Minister Sim is a leader who "delivers on his word," ensuring that promises are translated into swift action to meet the practical needs of SMEs.
China
