Written for the marketing, export and finance teams of Hong Kong enterprises planning a BUD-funded project in Malaysia or Singapore. It is an owner-side overview, not funding advice; the Trade and Industry Department's pages and HKPC's guidance notes are authoritative, and every figure here links to one of them.
What the BUD Fund covers in ASEAN markets
The Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund) runs two programmes. The Mainland Programme covers the Chinese Mainland; the Other Economies Programme covers economies with which Hong Kong has a free trade agreement or investment agreement, including all ten ASEAN members, Malaysia and Singapore among them.
- Cumulative ceiling: HK$7 million per enterprise, per the Trade and Industry Department.
- Matching ratio: 1 (Government) : 3 (enterprise) for applications from March 2025, as set out in the Government's October 2025 Legislative Council reply. A project budget of HK$400,000, for example, would draw at most HK$100,000 of Government funding.
- Three ways to apply: a General Application, Easy BUD for designated measures, and E-commerce Easy for e-commerce development. Per-project ceilings for each are set in HKPC's Guide to Application.
What changed in 2026
- The SME Export Marketing Fund (中小企業市場推廣基金) was folded into the BUD Fund from 1 July 2026. If your team used the Export Marketing Fund for overseas trade fairs or promotion, that route now runs through the BUD Fund's rules.
- From 15 June 2026, eight more economies were added to the Other Economies Programme and the Easy BUD ceiling rose from HK$100,000 to HK$150,000.
Which marketing measures a Malaysia or Singapore project usually includes
HKPC's scope of funding summary groups measures under branding, upgrading and promoting sales. The ones a market-entry marketing plan most often draws on are:
- Project-related advertising in the target market: search, social and marketplace ads. HKPC caps advertising as a share of the project; check the current cap in the summary.
- Promotional materials: localised creative, product content and video for the new market.
- A company website, or an enhanced one: for example a Malaysia or Singapore landing site, within HKPC's website cap.
- Exhibitions and promotional events, including virtual exhibitions.
- An online sales platform for the market.
Two limits matter when you plan the campaigns. Advertising aimed outside the Chinese Mainland, the covered markets and Hong Kong is not fundable, so geo-targeting has to match the approved market. Goods and services must also be procured under the procedures in the Guide to Application. This page describes types of work only. Whether a specific item is fundable is decided by the Guide to Application and the HKPC secretariat, not by an agency.
Malaysia or Singapore first?
The two markets differ in audience size, language mix and cost per click, so they are planned and reported as separate campaigns. Our Singapore vs Malaysia ad costs comparison covers the cost side, and our one brand, two markets guide sets out how to run both without merging the budgets, and cross-border marketing for Singapore and Malaysia covers the operating model.
How we fit
shakalakaa is a marketing agency based in Kuala Lumpur that runs campaigns in Malaysia and Singapore. For Hong Kong brands we work remotely, with Cantonese/English creative; we do not have a Hong Kong office. We are not a BUD consultant and we do not prepare BUD applications. The application, the budget and the audit belong to your enterprise and its advisers. Where an approved project includes marketing in Malaysia or Singapore, such as advertising, a localised website or promotional content, that in-market work is what we do.
To talk through the Malaysia or Singapore side of a project, request a credentials pack, or see how we work with Hong Kong brands.
Questions
Can the BUD Fund be used for marketing in Malaysia or Singapore?
Yes, within the scheme's rules. Malaysia and Singapore are both covered under the Other Economies Programme. HKPC's scope of funding lists project-related advertising, promotional materials, a company website and promotional events. Advertising outside the covered markets and Hong Kong is not fundable, and the Guide to Application decides what a specific project can include.
What happened to the SME Export Marketing Fund?
The Trade and Industry Department states that it was consolidated into the BUD Fund with effect from 1 July 2026. Export marketing that would previously have gone to the Export Marketing Fund is now considered under the BUD Fund's rules.
Does shakalakaa prepare BUD Fund applications?
No. We are a marketing agency serving Malaysia and Singapore from Kuala Lumpur, not a BUD consultant, and we have no Hong Kong office. Where an approved project includes marketing in Malaysia or Singapore, that in-market work is what we do.
Sources
- Trade and Industry Department — BUD Fund — checked 2026-10-01
- Trade and Industry Department — SME funding schemes: BUD Fund — checked 2026-10-01
- LCQ2: BUD Fund — Government reply to the Legislative Council, 15 October 2025 — checked 2026-10-01
- HKPC — BUD Fund Scope of Funding (Summary) — checked 2026-10-01
How this page is maintained
Every figure on this page comes from the Trade and Industry Department, the Hong Kong Government's Legislative Council replies or HKPC's published guidance. Where a figure could not be checked on one of those pages, it has been left out. If the scheme changes, tell us and we will correct or remove the line.