• SME News
543 SMEs Graded Three Star And Above, Says MITI
KUALA LUMPUR, June 21 (Bernama) -- A total of 543 small-and-medium enterprises (SMEs)have been graded three star and above under the SME Competitiveness Rating forEnhancement (SCORE) programme.
"The companies are deemed to be export ready andhave been recommended to theMalaysia External Trade Development Corporation (MATRADE) to participate intrade missions abroad or linked to multinational and large companies,"says the Ministry of International Trade and Industry (MITI) in the 2009International Trade and Industry Report released here on Monday.
The report says 1,693 SMEs were rated last year underSCORE which assessed the capacity and capabilities of small enterprises.
During the year, MATRADE participated in 28 trade fairs,two visits involving the Prime Minister, seven trade and investment missionsand three incoming buying missions.
"A total of 596 foreign buyers from 46 countriesparticipated in 6,951 business meetings with 660 Malaysian suppliers during theincoming buying missions, in conjunction with Malaysia International HalalShowcase in May," the report says.
The incoming buying missions resulted in immediate salesof RM200.3 million while sales under negotiation stood at RM1.9 billion.
In efforts to enhance the production and marketingcapabilities of domestic companies, the report says the National Mark ofMalaysia Brand was launched in March 2009, depicting quality, excellence anddistinction for Malaysian products and services.
MITI also implemented university-SME internshipprogrammes, best business and management practices for Malaysian-ownedcompanies and developed four-commercial home-grown technology platforms.
Meanwhile, the report also says that the overallperformance of the manufacturing and non-government services sector in theimplementation of the Third Industrial Master Plan was below stipulatedtargets.
The sectoral targets, other than that for approvedinvestments for the manufacturing sector, merchandise exports and total trade,were not achieved.
"The negative growth of the manufacturing sector, by9.3 per cent in 2009, was the worst performance for the last decade, reflectingthe severe impact of the global crisis on the Malaysian economy, in general,and the manufacturing sector in particular," the report says.-- BERNAMA
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