𝐒𝐌𝐄 𝐃𝐢𝐠𝐢𝐭𝐚𝐥𝐢𝐬𝐚𝐭𝐢𝐨𝐧 𝐈𝐧𝐢𝐭𝐢𝐚𝐭𝐢𝐯𝐞𝐬

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In line with the 2020 Budget, the Ministry of Finance (MOF) has provided a subsidy for SMEs to encourage them digitize their daily operations.

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𝐖𝐡𝐚𝐭 𝐢𝐬 𝐭𝐡𝐞 𝐃𝐢𝐠𝐢𝐭𝐚𝐥𝐢𝐬𝐚𝐭𝐢𝐨𝐧 𝐈𝐧𝐢𝐭𝐢𝐚𝐭𝐢𝐯𝐞𝐬?

Starting from 17.02.2020, the government will offer a 50% matching grant worth RM500 million for the next five years, allowing the first 100,000 SMEs to apply for a maximum grant of RM5,000 at no charges. The Ministry of Finance has appointed the National Savings Bank (BSN) to review the grant application.

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This is to encourage SMEs to move towards digital operations, including e-sales, enterprise resource planning (ERP) and electronic payroll systems.

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𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐤𝐞𝐲 𝐩𝐨𝐢𝐧𝐭𝐬 𝐨𝐟 𝐒𝐌𝐄 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐒𝐮𝐛𝐬𝐢𝐝𝐲?

Digital allowance up to 50% of invoice value or RM 5,000.

Preferential package offered by a number of digital suppliers selected by MDEC, Malaysia's digital economy agency.

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𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐝𝐢𝐠𝐢𝐭𝐚𝐥𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐚𝐫𝐞𝐚𝐬?

Electronic Point of Sale System (E-POS)

HR Payroll System (HR)/Customer Relationship Management (CRM)

Digital marketing/sales

Procurement process

Enterprise Resource Planning (ERP)/Accounting & Tax

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𝐖𝐡𝐚𝐭 𝐢𝐬 𝐭𝐡𝐞 𝐪𝐮𝐚𝐥𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐒𝐌𝐄?

The company is at least 60% owned by Malaysians;

The company is registered under the relevant laws of Malaysia and is classified as a SME;

SME has been in operation for at least (1) years; and

SMEs that have been in operation for (1) year with minimum annual sales of RM100,000 in the first year; and

SMEs that have been in operation for (2) years and above with at least RM50,000 annual sales for two consecutive years.

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𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐫𝐞𝐪𝐮𝐢𝐫𝐞𝐝 𝐝𝐨𝐜𝐮𝐦𝐞𝐧𝐭𝐬?

Complete application form for the SME Digitisation Programme

IC or passport copy of director/partner/operator (whichever is applicable)

Business Registration Certificate copy (CCM, Form A/B, Form 24&49 and M&A or any relevant form specified in the Companies Act 2016)

Latest audited financial statements or latest financial management account statement

Bank statements for the last two (2) months

Company profile (if any)

Invoice/quotation and service agreements from authorized suppliers listed in MDEC

Any other information and documents to be provided upon bank request