Government Grants refers to the public subsidy offered to SMEs used for the purpose of business development. The subsidy is not expected to be paid back and is part of the Malaysian government’s effort to help local businesses thrive and compete successfully in the international market.
Modernisation / Upgrade Machinery & Equipment Grants
The main objective of these grants is to upgrade Malaysian companies to be more competitive internationally. The amount of the grant is limited to 50% of the machine cost or RM5 million (whichever is lower).
The government has identified the following industries as Priority Sectors:
- Medical Devices
- Advance Electronics
- Machinery & Equipment (SME involve in Manufacturing in above)
- Renewable Energy
Companies not from the above industries can still apply. Approval is on a case to case basis.
The company’s products must have the following features:
- High technology products
- Creative products
- Products that benefit the country
- Not common in the market place
- High impact to the economy
Business Accelerator Programme
BAP is an integrated assistance programme to enhance capabilities of small and medium enterprises (SMEs) through business advisory and financial support. The Programme supports a wide range of capacity building initiatives to assist SMEs to grow their businesses locally and abroad.
The Business Accelerator Programme provide financial support for the following areas:
- Productivity & Automation (Machinery)
- Branding & Promotion
- Packaging & Product Packaging
- Innovation Product Development
- Information and communications technology (ICT)