Today's Pick (12/11/12/197/892) Bumi SMEs urged to tap into global market

Bumi SMEs urged to tap into global market


KUALA LUMPUR: SME Corp Malaysia has urged Bumiputera small and medium enterprises (SMEs) to tap the global market in view of the visibility of their capabilities in the domestic market.

SME Corp Chief Executive Officer Datuk Hafsah Hashim said the Bumiputera companies which participated in this year's E50 award have reached a four-star rating.

"They are well evaluated by Deloitte Malaysia. They have undergone a very stringent process of making sure that these Bumiputera companies are good companies.

"We would like to see Bumiputera companies take this opportunity to go out and grab the world market because they are now more visible with their capabilities," Hafsah told reporters after announcing the winners of SME Corp's annual E50 Award.

This year, participation in the E50 was by invitation. More than 400companies evaluated under the SME Competitive Rating for Enhancement (SCORE) and rated four stars and above were invited to participate.

The focus this year was to give greater recognition to companies that are well positioned for the future, competitive and resilient, being capable of facing global challenges in true entrepreuneurial spirit.

SME Corp expects to see more Bumiputera SMEs participating in the E50 award in the future, said Hafsah.

Bumiputera-led companies recorded a 210 per cent increase in their participation to 31 companies in 2012 from 10 companies in 2011. Hafsah said the majority of the SMEs in Malaysia are domestic-oriented.

"SME Corp will assist these companies to be 'locally present but globally oriented'. That is how we want to push them to go for the export market from now on," she said.

Deloitte Malaysia Executive Director Dr Nordin Zain said the global market should not inhibit the progress of the enterprises.

"I am optimistic despite the fact that there have been challenges in the overseas market. The kind of management that these companies have demonstrated to us shows that they are prepared to go overseas and compete internationally,"he said.

Participation in this year's E50 was dominated by the manufacturing sector,which accounted for 40 per cent of the nominations, up from 34 per cent last year.

Nominations from other sectors such as services, healthcare, consultancies and interior design jumped to 22 per cent from eight per cent last year,followed by professional services at 14 per cent, up from 12 per cent last year,and real estate/construction at 10 per cent compared to four per cent last year.

The event was jointly organised by SME Corp Malaysia and Deloitte Malaysia,with support from partners RHB Bank Bhd, TM Berhad, Business Times, Media Prima Bhd and Malaysia SME.

The award, a mark of entrepreneurial excellence, was established in 1996,and honours the 50 best SMEs in the country. It has so far attracted 1,673 participants and established an alumni of 511companies.

"With a mark of recognition and valuable endorsement, 40 companies are already listed on the Main Board of the Malaysian Bourse while 12 are on the ACEMarket," said a joint statement from SME Corp and Deloitte Malaysia. -- BERNAMA

Source : New Straits Times
Date : 9 November 2012
Today's Pick (12/11/12/197/892)