KUALA LUMPUR: 11 August 2022 –SME Bank XCESS 2022 Networking Program was given a major shift by opening up opportunities for local MSMEs to penetrate the international market through the involvement of trading partners from Thailand, Japan as well as access to the ASEAN market through the online platform, ASEAN Access.
Minister of Entrepreneur Development and Cooperatives, Tan Sri Noh Hj. Omar said, "The MSMEs’ export performance in 2021 has shown an increase when it recorded 11.7% export contribution of the country's total exports. Overall, MSME sector exports have increased to 5.4% with a value of RM124.3 billion.”
Tan Sri Noh added, "The initiative to bring international trading partners is the right move and all MSMEs who participated in the SME Bank XCESS 2022 should seize this opportunity and enter new markets more quickly and effectively. In addition, the ASEAN Access online platform will provide a huge market size for SME entrepreneurs in the country to explore.
”SME Bank XCESS 2022 offers four additional thrusts which are access to financing and entrepreneur development programs as well as comprehensive services offered by the SME Bank Group. This includes Assets Link, Takaful Services and HalalXcess in addition to the SME Bank Umbrella Program and the Bumiputera Vendor Development Program led by the Ministry of Entrepreneurship Development and Cooperatives (KUSKOP). All agencies under KUSKOP also opened their booths to offer their services.
Group President / Chief Executive Officer of SME Bank, Dato' (Dr.) Aria Putera Ismail said, "The Umbrella Program is a collaboration between SME Bank and the Anchor companies enabling entrepreneurs who are interested to participate in a business model that is already firmly established in the market thus minimizing the risk of failure. Program participants will be financed by SME Bank and will also have the opportunity to get free guidance and advisory services from CEDAR.”
Since the introduction of SME Bank Umbrella Program in 2019, SME Bank has approved 24 financing applications worth RM11.6 million. Statistics show that 60% of the program participants have recorded an increase in profits and revenue. Looking at the additional two Anchor companies this year, we expect more entrepreneurs will join the SME Bank Umbrella Program in the future.
A signing ceremony to mark the onboarding of the eight Anchor companies into SME Bank’s Umbrella Program was also held during the event. The eight companies were Ramly Food Processing Sdn. Bhd., Ayamas Shoppe Sdn. Bhd., Chatime Malaysia Sdn. Bhd., and Bubblebee Sdn. Bhd. representing the food and beverage sector; while Bateriku (M) Sdn. Bhd., Petro Teguh (M) Sdn. Bhd., Prowheels Distributor (M) Sdn. Bhd. and PETRONAS Lubricants Marketing Malaysia Sdn. Bhd. were from the services and automotive support sector.
The SME Bank XCESS 2022 participants were also briefed on Environmental, Social and Governance (ESG) and the importance of adapting it into their business operations. SME Bank is currently in the phase of implementing the ESG agenda into its business operations based on the 2021-2023 Three-Year Sustainability Roadmap.
For this year, SME Bank is targeting a total of 5,000 visitors to the SME Bank XCESS 2022 virtual portal and from that number, a total of 1,000 entrepreneurs are expected to participate in the business matching activities, business clinics, advisory services and ‘visits’ the Anchor companies’ booth. The SME Bank XCESS 2022 program was launched by Tan Sri Noh Hj. Omar, Minister of Entrepreneur Development and Cooperatives.