SMEs Rebounding Strongly Amidst Economic Uncertainty

SME100 Participants More Than Doubled Revenue in 2022

KUALA LUMPUR, Malaysia, Dec. 14, 2023 /PRNewswire/ -- Malaysian SMEs have experienced a significant rebound following the reopening of the economy post-COVID-19 pandemic. In 2022, the SME sector recorded an 11.6 percent growth in GDP against 8.7 percent for the overall economy.

This is also reflected in the number of participants of the SME100 Awards, with nominations jumping by 36 percent to reach 1,088 nominations, breaching the 1,000 mark for the first time in the 15-year history of the award. Revenue growth among the nominees has more than doubled, averaging 112.9 percent versus a year earlier.

The SME100 Awards is organized by SME Magazine and the Small and Medium Enterprises Association of Malaysia (SAMENTA), honouring outstanding SMEs for their exceptional achievements in various industries.

Deputy Finance Minister, Datuk Seri Ahmad Maslan presented the awards in the presence of Datuk William Ng, national president of SAMENTA, Zahid Ismail, director general of Malaysia Productivity Corporation, and Tan Sri Soh Thian Lai, president of the National Chamber of Commerce and Industry.

"The government, under the leadership of Prime Minister Datuk Seri Anwar Ibrahim, is committed to creating an enabling environment for our SMEs to thrive. We recognize the importance of providing support, whether through policy frameworks, financial assistance, and infrastructure development, to empower our SMEs to reach greater heights," Datuk Seri Ahmad Maslan said in his speech at the SME100 awards ceremony.

"Despite being the first affected by economic downturns, SMEs, especially the SME100 awardees, have displayed remarkable resilience, strength, and growth. This shows that given the right policy direction and support, our SMEs can perform strongly," said Datuk William Ng.

The SME100 Awards maintained rigorous evaluation criteria, encompassing qualitative and quantitative analysis, and a 100% interview requirement. The focus was on growth metrics such as turnover, profit, market share, and resilience indicators including best practices, sustainability, and vision. CTOS provides data for the ranking, while Baker Tilly served as the official auditor of the award.

Aside from the SME100, four other awards were presented, including the SME100 CTOS Credit Excellence Awards, BMI Sustainable Brand Awards, SME100 SME Icon Award, and BMI Affingem Women Entrepreneur Awards, with Affin Bank sponsoring the latter two categories.

The SME100 has become a symbol of trust and reliability for business owners, with past recipients often going on to be listed on various stock exchanges, including notable companies like Grab, Mynews Holdings Berhad, and Solarvest Holdings Berhad. Besides Malaysia, the SME100 is also organised in Indonesia, Singapore, and Vietnam

For more information about the SME100 Awards 2023 Malaysia and a complete list of winners, please visit http://sme100.asia.

LIST OF WINNERS OF THE SME100 AWARDS 2023 MALAYSIA IN ALPHABETICAL ORDER:

10 Infinity Sdn Bhd 3 Day's Furniture Sdn Bhd Advantage Marine Services (Malaysia) Sdn Bhd Airei Sdn Bhd Alltank Solutions Sdn Bhd Armada Cekap Sdn Bhd Armada Parts Sdn Bhd Best Crew Sdn Bhd Business Boutique Hotel Management Sdn Bhd Byond Tech Global Berhad C.H.S. Steelworks Sdn Bhd Chef Direct Sdn Bhd Creative Concept Resources Sdn Bhd D Jungle People Sdn Bhd D&B Energy Sdn Bhd DOREMi Sound & Light Sdn Bhd Dutamas Semesta Sdn Bhd Eastern Suntech Engineering & Construction Sdn Bhd Eintegrity Solutions Sdn Bhd Emax Beauté International Sdn Bhd Energyhub Battery Sdn Bhd Enrich Package (Malaysia) Sdn Bhd Envicion Studio Sdn Bhd Estylo Sdn Bhd Etronix Sdn Bhd Eventistry Event Management Gamer2Gamer Sdn Bhd Gary Chong Studios GCFO Capital Sdn Bhd Global Ai Logistics Sdn Bhd Global Concord Logistics (M) Sdn Bhd Goldfinch Jewelry Sdn Bhd Great Cosmo Industries Sdn Bhd HBT Food & Beverage Sdn Bhd Hitec Metal Sdn Bhd HMN Nadhir Sdn Bhd IDPM Sdn Bhd IMPACTO Sdn Bhd IMT Tech Sdn Bhd In-Source Options Sdn Bhd Infinic Plastic Technology Sdn Bhd IPS Software Sdn Bhd Joeyees Trading Sdn Bhd JVG Bina Sdn Bhd Kedai Pajak Well Chip Sdn Bhd KKBS Curtain Sdn Bhd Lee Ming Press Sdn Bhd Linear Channel Sdn Bhd Lipoh Roller Shutters Sdn Bhd Luna Clinic Sdn Bhd M&D Precision Sdn Bhd Maharaja Textiles Sdn Bhd Malex Paper Products Sdn Bhd Mamami Shoppe (M) Sdn Bhd MCE Marketing Sdn Bhd Mid Ventures Sdn Bhd MIR Maju Enterprise Sdn Bhd (Quikmaster) Mirack Technologies Sdn Bhd MMA Freight Services Sdn Bhd Monkeycloud Media Sdn Bhd Nastah Industries Sdn Bhd Neuropower (M) Sdn Bhd Next Energy Sdn Bhd NexxG Worldwide Sdn Bhd Nicholas Actuarial Solutions Sdn Bhd Nine Packaging Sdn Bhd NS Wealth Solution Okieee Studios Sdn Bhd One Maker Group Sdn Bhd PK Furniture System Sdn Bhd Platinum Podium Sdn Bhd Polymeric Technology Sdn Bhd Public Medicare Group Sdn Bhd Redefined Mortgage Specialist Sdn Bhd RM Applications Sdn Bhd Rocketbots Malaysia Sdn Bhd (respond.io) San Engineering And Electrical Support Sdn Bhd        Servedeck Innovation Sdn Bhd SF Techlogis Sdn Bhd Shinsei Malaysia Sdn Bhd SHT Engineering Sdn Bhd Siacon Technology Sdn Bhd Sin Lian Seng & Sons Sdn Bhd SM Digital Innovation Sdn Bhd Sri Ternak Mart (SK) Sdn Bhd Sumitec Sdn Bhd Suria Dan Sonne Sdn Bhd SWM Environment Sdn Bhd Tea Garden Food Supply Sdn Bhd Techies App Technologies Sdn Bhd Teraju Pharma Sdn Bhd Tohs Daily Food Sdn Bhd (Toh's Daily) V Fifth Group Sdn Bhd (VF Properties) Vista Infinity Development Sdn Bhd Wagro Trading Sdn Bhd Woodpeckers Group Sdn Bhd Work Inspire Resources Sdn Bhd Yoshitec Precision Engineering (M) Sdn Bhd Zeo Asia Sdn Bhd ZW Packaging Sdn Bhd (ZW Group)

SUSTAINABLE BRAND AWARDS

Awantec (Awanbiru Technology Berhad) KKBS Curtain (KKBS Curtain Sdn Bhd) Quikmaster (MIR Maju Enterprise Sdn Bhd) Siemens (Siemens Malaysia Sdn Bhd) Tokio Marine (Tokio Marine Life Insurance Malaysia Berhad)

CTOS CREDIT EXCELLENCE AWARDS

10 Infinity Sdn Bhd Etronix Sdn Bhd Kedai Pajak Well Chip Sdn Bhd KKBS Curtain Sdn Bhd Polymeric Technology Sdn Bhd SF Techlogis Sdn Bhd Sin Lian Seng & Sons Sdn Bhd Sumitec Sdn Bhd

WOMEN ENTREPRENEUR AWARDS

Dr. Eunice Beh (Luna Clinic Sdn Bhd) Ms. Lim Shu Yi (Nicholas Actuarial Solutions Sdn Bhd) Dato' Ong Bee Bee (ZW Packaging Sdn Bhd)

About SAMENTA

Established in 1986, SAMENTA is Malaysia's oldest and largest association of SMEs, with over 3,000 members across the country. A multi-racial, multi-sector association, SAMENTA has been at the forefront of championing a SME-friendly business environment and connecting SMEs to regional and global opportunities.

About Business Media International

Business Media International is a subsidiary of Audience Analytics Limited (1AZ.SG), a regional leader in promoting growth for companies in Asia through data-driven brands and initiatives. We own renowned media brands such as SME Magazine, HR Asia, Capital Asia, Energy Asia, Logistics Asia, TruthTV, and CXP Asia as well as business impact assessment brands such as SME100, HR Asia Best Companies to Work for in Asia, Golden Bull Awards and CXP Asia Best Customer Experience Awards. Audience Analytics also own a number of exhibition brands and have the proprietary software-as-a-service — Total Engagement Assessment Model.

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