KUALA LUMPUR: The government has allocated RM30mil for small and medium enterprises (SMEs) and start-ups to pay their interns a decent monthly allowance.
On Monday (March 18), TalentCorp launched the grant programme, the Industrial Training Matching Grant Initiative for Small & Medium Enterprises (LiKES), which would reimburse SME employers 50% of the amount given to interns as monthly allowance from this year until 2026.
Human Resources Minister Steven Sim said the grant would go a long way towards helping SMEs and start-ups with their internship programmes.
"The grant will encourage these companies, which have big potential, but limited ability, to have an internship programme, and further expand the internship programme throughout Malaysia so that there are more opportunities for the students," he said in his speech during the launch of LiKES here.
"SMEs can use the grant to have structured internship opportunities," he said, adding that TalentCorp's share of co-payment will be capped at RM300 per intern.
"Of course, this is the minimum. If you (employers) can pay more, please do," he said.
In addition, Sim announced enhancements to the Industrial Training Scheme (ITS) under the Human Resource Development Corporation (HRD Corp).
Effective immediately, employers could utilise up to 50% of their levy balance as of January 2024 towards ITS for the year, he said.
TalentCorp group chief executive officer Thomas Mathew said the LiKES grant would enable young talents to support the SME sector.
"It supports SMEs financially to play a proactive role in developing local talent by assisting the transition from school to employment.
"LiKES also aims to alleviate the cost of living for industrial trainees, especially for those in the Klang Valley, Penang and Johor Baru, where most industrial training placements are offered," he said.
The grant covers internship periods of up to six months, and was open for application by SMEs and start-ups registered with the Companies Commission of Malaysia (SSM).
The grant was open for application from Monday.
Eligible applicants must offer internship placements lasting a minimum of 10 weeks, and provide a stipulated minimum internship allowance.
For more information, visit www.talentcorp.com.my/likes.
