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SME Bank Forges Strategic Partnership with Five Industry Players, Enhancing SMEs Growth Potential

LANGKAWI : 25 May 2023

Small Medium Enterprise Development Bank Malaysia Berhad (SME Bank) today signed a Memorandum of Understanding (MoU) with Sani Ferry Sdn. Bhd., Galaxy Aerospace (M) Sdn. Bhd., Kembara Station Sdn. Bhd., Clearwisdom Sdn. Bhd.and Aerotree Defence & Services Sdn. Bhd., a collaborative effort to propel the growth and advancement opportunities of small and medium enterprises (SMEs), simultaneously benefiting other SMEs within the aviation and maritime industry.

Minister of Entrepreneurship and Cooperatives Development (MECD), YB Datuk Ewon Benedick said, “MECD applauds SME Bank for its effort to revitalise the economic performance of SMEs in these industries through this collaboration. Today’s initiatives have also indirectly contributed towards realising the Government's aim to open up more opportunities and increase the participation of local companies in this high-value supply chain. Leveraging the expertise and achievements of the industry players, SMEs will garner the right support to further propel and elevate their growth.”

SME Bank’s Group President/Chief Executive Officer, Datuk Wira (Dr.) Aria Putera Ismail said, “Through this strategic collaboration, SME Bank aims to facilitate an environment conducive to the advancement of SMEs from various industries. By tapping into the accumulated insight, experience, and significant accomplishments of our esteemed customers, SME Bank will play a pivotal role in elevating the performance and potential of SMEs. This mutually beneficial partnership will enable SME Bank to extend its reach and positively impact on a broader spectrum of enterprises.”

Datuk Wira Aria added, “Our wholly-owned subsidiary, the Centre for Entrepreneur Development and Research Sdn. Bhd. (CEDAR) will also offer entrepreneurship and capacity development programs to further empower the Nation’s SMEs, which will include the adoption of Environment, Social and Governance (ESG) best practices through specialised coaching and advisory programme.”

Aside from the MoU, SME Bank is playing its mandated role that enables the Bank to offer a complete financing package to the Sani Ferry Sdn. Bhd. Datuk Wira Aria said, “The working capital/asset purchase facility amounting to RM18.2 million is enabling them to expand their services in passenger transport sectors with the purchase of additional watercraft, among others. This endeavour is anticipated to bolster the capacity to accommodate the surge in tourist arrivals to Langkawi, particularly during high-demand periods such as the LIMA event.”

The MoU between SME Bank and the five industry players was signed by SME Bank Group President/Chief Executive Officer, Datuk Wira (Dr.) Aria Putera Ismail and representatives from respective companies. The signing ceremony and exchange of documents were witnessed by the Secretary General of Entrepreneurship and Cooperatives Development (MECD), Dato’ Sri Suriani Dato' Ahmad.

SME Bank has long established its presence in the northern region through two branches namely, Alor Setar Enterprise Centre in Kedah and Seberang Jaya Enterprise Centre in Penang. For more information on SME Bank’s funding and beyond financing programmes visit www.smebank.com.my or contact 03-2603 7700.