SMEs Thrive as Economy Rebounds

As the Malaysian economy recovers from the Covid-19 pandemic, a record number of 138 small and medium enterprises (SMEs) from over 800+ nominations, received the SME100 Awards, organised by SME Magazine and the Small and Medium Enterprises Association of Malaysia (SAMENTA). 

The SME100 continues to adopt one of the most stringent evaluation criteria for all nominees. The five-step process included both qualitative and quantitative analysis, as well as a 100 percent interview requirement with a focus on growth (turnover, profit, and market share) and resilience (best practices, sustainability, and vision). SME100 is the only data-driven awards in the country, with CTOS providing the financial and non-financial data, and Baker Tilly Malaysia conducting the audit. 

The award winners received their award trophies from Datuk Lokman Hakim Ali, Secretary General of the Ministry Of International Trade And Industry (MITI), Rizal Nainy, CEO of SMECorp Malaysia and Datuk William Ng, chairman of SAMENTA and organising chairman of the SME100 Awards. 

“SMEs continue to thrive as the economy recovers. 2022 looks set to be another good year for the economy and by extension, the SMEs. Despite the political and economic uncertainties globally, SMEs are cautiously optimistic of 2023 as well. The SME100 recipients are among those that have demonstrated resilience, strength and growth despite the challenges.” said Datuk William Ng. 

This year, the SME100 also saw the rise of women entrepreneurs with 28 percent of all recipients being led by women. This is a significant jump of 40% from the previous year. On top of that, seven women entrepreneurs were named winners of the BMI-Affingem Women Entrepreneur Awards category. 

“While we continue to see husband and wife teams, we are also seeing more and more women leading successful SMEs. More can and must be done to help support women in business. This is why at SAMENTA, we formed the Women-in-Business working group earlier this year, with the sole purpose of empowering more women to start businesses, and lobbying for a more equal playing ground for women in business”, Datuk Ng added. 

On top of SMEs winning the prestigious SME100, there are also four other awards which has been awarded to several SMEs, including the iconic SME100 CTOS Credit Excellence Award, SME100 Affin SME Icon Award, the BMI Affin Sustainable Brand Awards and the BMI Affingem Women Entrepreneur Awards with Affin Bank sponsoring the latter 3 categories. 

The SME100 serves as a pinnacle of trust and a benchmark of reliability for business owners. Many past recipients of the SME100 have gone on to be listed in various stock exchanges; including Grab (who won the SME100 when it was MyTeksi), Mynews Holdings Berhad, Safetyware Group Berhad, Solarvest Holdings Berhad, Pekat Group Berhad, LMS Compliance Limited and many others. 

Malaysia is one of the four ASEAN member countries to organise SME100 Awards, besides Indonesia, Singapore, and Vietnam. 

SME100 is strongly supported by the industry, including by such supporting organisations as Asean Retail-Chains & Franchise Federation (ARFF), Federation of Public Listed Companies Bhd (FPLC), Kuala Lumpur Malay Chamber of Commerce (KLMCC), Malaysia Automation Technology Association (MATA), Malaysian Industry-Government Group for High Technology (MIGHT), Malaysian Investment Development Authority (MIDA), Malaysia Productivity Corporation (MPC), National Association of Women Entrepreneurs of Malaysia (NAWEM), and Selangor Information Technology and Digital Economy Corporation (SIDEC). 

2022 Malaysia SME100 Award Winners (in alphabetical order): 

For more information, please visit sme100.asia.