Steven Sim warns against 'cable' or insider dealings in fund applications

​PASIR GUDANG - The Ministry of Entrepreneur Development and Cooperatives has issued a stern warning that it will not compromise on any ‘cable’ or insider practices in the processing of entrepreneur fund applications under the ministry.

Minister Steven Sim Chee Keong stressed that all government-provided funds and business loan assistance are the absolute right of eligible Malaysians, without requiring any political lifelines.

He said the ministry is now fully committed to eliminating any need for political support letters or third-party involvement in approving financing.

"Now, if you want to borrow money or access business funds, there is no longer any need for a 'party branch chief's' signature, a politician's endorsement, or 'cable' connections. We open it directly to all Malaysians.

"As long as the entrepreneur is eligible and meets the requirements, we will approve it, regardless of race, religion, or even the colour of their shirt (political ideology)," he said yesterday.

Sim said the ministry is actively driving administrative reform through a structured framework to make the country's entrepreneurial ecosystem more effective.

"Key reform priorities include simplifying application processes, shortening capital approval turnaround times, and cutting red tape across all ministry agencies," he said.

On complaints of delays or abuse of power, Sim said he trusts most agency staff under the ministry are professional, but vowed transparent probes and firm action if misconduct is proven.

"For me, to ensure this reform succeeds, political leadership itself must be upright, have integrity and uphold good governance principles," he emphasised. - BERNAMA