• SME News
Local SMEs told to move up value chain
PETALING JAYA: Local small and medium enterprises (SMEs) are encouraged to emphasise on product innovation, branding and new technologies to enhance their competitiveness in the global marketplace. The SMI Association of Malaysia national president Chua Tiam Wee said Malaysian SMEs could no longer depend on being suppliers or original equipment manufacturers (OEM) to the bigger companies.
Treat SMI bosses well, banks told
KUALA LUMPUR: Banks, whether government or privately owned, should not reject loan applications from entrepreneurs of small and medium industries (SMIs) because they are unable to speak in English or not dressed properly. MCA president Datuk Seri Ong Ka Ting also said banks should not approve loans based on the racial background of applicants.
Huge potential for SMEs in halal industry
THE global halal industry is huge and worth US$500bil to US$2 trillion. Its potential can be gauged by the rising Muslim population, coupled by the surge in demand for halal products and services worldwide.
IT marks turning point for SMEs
THE small and medium enterprises (SMEs) need to improve themselves in terms of information technology (IT) and human capital. SAP South East Asia vice-president and Singapore country manager, Kowshik Sriman, said SMEs tend to be “a bit apprehensive and fearful of IT because they are not used to it”.
MBAM: Small and medium firms at risk of closure
PETALING JAYA: The continuing impact of unprecedented price increase and shortage of building materials will lead to project delays and cost overruns, Master Builders Association Malaysia (MBAM) has warned. President Ng Kee Leen said if these problems persisted, small and medium construction companies might be forced to close down and projects abandoned.
SMIDEC to be known as SME Corp Malaysia
BANK Negara Malaysia today officially handed over the National SME Development Council (NSDC) secretariat function to the Small and Medium Industries Development Corporation (SMIDEC).
More SMEs are trading with MNCs
MORE small and medium enterprises (SMEs) in Malaysia are trading directly with large companies - be it the middle market enterprises (MMEs) or multinationals (MNCs) operating locally and abroad. This growing trade relationship has a symbiotic relationship with Malaysia's favourable economic growth on the back of relatively strong domestic demand, exports and the inflow of foreign investments.
More to qualify for SME award
The Terengganu government is confident that local entrepreneurs will qualify for the new category of SME Young Entrepreneur Award under this year's SME Recognition Award.
Bigger allocation for SMIDEC under 9MP
KUALA LUMPUR: The Small and Medium Industries Development Corp (SMIDEC) will receive an additional allocation of RM142.3mil under the Ninth Malaysia Plan Mid-Term Review, says chief executive officer Datuk Hafsah Hashim. “We anticipate an increase in application for grants in line with the incentives that had been given by the Government, such as the 10% upfront payment upon approval,” she said at a media briefing yesterday.
RM1.2b to assist SMEs cope with rising prices
KUALA LUMPUR: Bank Negara will establish two financing facilities of up to RM1.2bil to assist small and medium enterprises (SMEs) cope with the impact of rising costs due to rising prices. Prime Minister Datuk Seri Abdullah Ahmad Badawi announced Thursday that the RM700mil SME Assistance Facility and the SME Modernisation Facility with an allocation of RM500m would commence Aug 1.
SME segment to drive Damco revenue growth
In 2009, the freight forwarder will focus on growing contribution from short haul, especially as Intra-Asia trade volume is much larger than transpacific trade, says Damco general manager
Financing key to growth of SMEs
FINANCING for small and medium enterprises (SMEs) is key in promoting the development of this sector as it is seen as a potential contributor to Malaysia's economy. The Government and various financial institutions are now paying greater attention to this sector as it has the ability to grow into a more dynamic segment of the economy and increase the country's foreign reserves.
Miti mulls incentives for manufacturers
KUALA LUMPUR: The International Trade and Industry Ministry (Miti) has proposed that manufacturers be provided with more attractive incentives in the form of import duty exemption, rebates and tax incentives for energy-saving projects and equipment.
“Miti is now working closely with the Finance and Energy, Water and Communications ministries on the details of the incentives,” said Minister Tan Sri Muhyiddin Mohd Yassin.
First ABM Banking Industry Seminar for SMEs opens in Klang Valley
The Association of Banks in Malaysia (ABM) initiated a one-day seminar for SMEs on July 9, 2008. The seminar was opened by the Governor of Bank Negara Malaysia, YBhg Tan Sri Dr Zeti Akhtar Aziz.
Three new categories for 2008 SME awards
SERI KEMBANGAN: The SMI Association of Malaysia has introduced three new awards – Young Entrepreneur Award, Government-linked Enterprises Excellence Award and Social Responsibility Excellence Award – for SME Recognition Award 2008. National president Chua Tiam Wee said small and medium enterprises (SMEs) accounted for 99.2% of local business establishments.
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