FOURTY-EIGHT micro, small and medium enterprises (MSMEs) were feted on November 9 for successfully completing the SME Competitiveness Rating for Enhancement (SCORE).
These MSMEs received certificates of appreciation for achieving four and five stars under SME Corp. Malaysia’s Program Rintis Pemangkin PMKS SCORE 5 Bintang. They were among some of MSMEs that received the exemplary ratings under the programme.
Entrepreneur and Cooperatives Development Minister Datuk Ewon Benedick, who officiated the event, revealed that out of the 48 MSMEs recognised, 21 are actively preparing for listing on Bursa Malaysia.
He anticipated that 10 of these businesses would proceed with their listing in the near future, while the remaining 11 would do so within the next five to 10 years.
Moreover, 12 MSMEs are set to expand their global presence using the Trade Linker service, a vital component of the programme.
This positive development was reflected in the businesses’ performance report, indicating substantial improvement compared to 2021.
Ewon also said that SME Corp. Malaysia and the Securities Commission (SC) have recently entered into a memorandum of cooperation, paving the way for potential collaboration in the development of small and medium enterprises (SMEs).
This strategic collaboration is anticipated to result in the establishment of 200 companies that are prepared to engage in the capital market by 2026.
He also noted that the MSME performance report that was received on August 1, 2023, showed substantial improvement over the previous year, and that this trend is expected to continue.
Meanwhile, SME Corp. Malaysia CEO Rizal bin Nainy emphasised the significance of the Program Rintis Pemangkin PMKS SCORE 5 Bintang in aiding small businesses to list successfully on Bursa Malaysia.
He highlighted the programme’s objective of enhancing capital and visibility in both domestic and international markets.
“This programme is also an endeavour to assist MSMEs in exploring the export market through the facilitation of business matching sessions with Trade Linkers who are knowledgeable in activities related to exporting,” he said.
In addition, among the strategies implemented for market research include a due diligence listing, an IPO and showcases of success stories of small businesses that have thrived on Bursa Malaysia.
In the Budget 2024 announcement on October 13, a significant allocation of RM130.6 million has been earmarked under SME Corp. Malaysia for the development of MSMEs in the year 2024.
“In relation to that, it is hoped that MSMEs will benefit from the facilities provided by the government to strengthen and expand existing businesses.
“SME Corp. Malaysia, operating under the Ministry of Entrepreneur and Cooperatives Development (MECD), is committed to fostering the growth of SMEs in Malaysia,” Rizal added.
Among businesses receiving the SCORE programme certificate for its outstanding performance was Hajjah Aminah Food Industries Sdn Bhd.
Founded in 2000, Hajjah Aminah Food Industries is engaged in the operation of restaurants, as well as the processing, preservation and manufacturing of meat and seafood products.
Its main office is in Seremban, Negri Sembilan, with additional branches in Sungai Buloh, Selangor, as well as Melaka, Penang and Johor.
The company has recently expanded its operations by opening its first overseas branch in Yamaguchi, Japan.
Hajjah Aminah Food Industries founder Norlia Yusoff said the programme has provided her with a significant amount of inspiration to keep making progress and moving in the right direction.
“The programme has given me so much encouragement to keep striving for success and I now understand that it is important to consider future plans and take action accordingly.
“Here, I received a wealth of valuable business input. There is already an abundance of resources out there but here, they pool all of that data and make it accessible to everyone,” she told The Malaysian Reserve (TMR) after the ceremony.
Meanwhile, Enviroverks (M) Sdn Bhd group CEO Nitesh Malani commented that the programme is forward-thinking as it empowers MSMEs to take the lead and expand.
He expounded on the historical context, underscoring a time when the prospect for SMEs to thrive was limited.
Nitesh mentioned that in the past, such opportunities were unavailable, but now SMEs have access to a wide range of funding options and can gain market access.
“The business landscape lacked the necessary avenues for these enterprises to explore opportunities, secure essential funding and carve a niche in the competitive market.
“However, due to the programme’s paradigm shift, we are now in a new era where the once elusive opportunity has become increasingly accessible,” he added.
Nitesh also indicated that his most valuable takeaway from this programme is that it enabled him and other participants to gain a deeper understanding of various business strategies that were previously unfamiliar to them.
“I also think the key takeaway from this programme is that they allow us to understand what is the equity out there, fund raising exercises, collaboration initiative and what can the government provide to the private sector.
“The programme also allowed us to grow the human capital. Human capital is crucial as we grow our businesses, considering our journey from inception to our current position and future progression.
“We learned about how to enhance our proficiency in financial understanding and literacy, and also gained insights into market growth as we navigate globalisation,” said Nitesh.
Enviroverks has a longstanding history of 19 years and has established itself as an expert in indoor engineering and building facilities management.
In terms of future funding of MSMEs, the government has introduced measures to boost the capital market, aiming to attract both domestic and international funds into the Malaysian stock market.
This is expected to provide an impetus for MSMEs to expand their business.
Source: https://themalaysianreserve.com/2023/11/13/sme-corp-malaysia-champions-high-potential-msmes-in-listing/