SMEs must be innovative to be competitive


SMALL and medium-sized enterprises (SMEs) must look for ways to increase their competitiveness in the face of mounting foreign challenges brought about by globalisation, said Transport Minister Datuk Chan Kong Choy. 

“If local SMEs want to remain relevant in this highly competitive age and period, they must adapt and rise to the challenges,” Chan said at the presentation ceremony of the first Nanyang Siang Pau Golden Bull Award 2003 - Malaysia 100 Outstanding SMEs in Kuala Lumpur last Friday. 

Chan said that SMEs should aim to build themselves up into large companies and compete against foreign companies and SMEs in the local and overseas markets. 

Datuk Chan Kong Choy (second from left) presenting the top Golden Bull Award to United Communications Sdn Bhd CEO Wong Tze Leng.

Nanyang Siang Pau director Lee Peck Hoo said the award would serve to promote a culture of continuous benchmarking among the business community and spur other enterprises to strive harder to keep pace with the best achievers. 

The award drew entries from 227 SMEs. It also attracted 18 entries from SMEs with substantial bumiputra equity holding. 

The winners were selected based on product innovativeness, market presence, use of technology, productivity, profit growth, turnover, corporate and human resource management and other criteria. 

The top 10 winners were Unified Communications Sdn Bhd, LY Furniture Sdn Bhd, NST Logistics Sdn Bhd, Fetta Auto Part Industries (M) Sdn Bhd, NEP Holdings (M) Sdn Bhd, Pentamaster Engineering (M) Sdn Bhd, Emas Kiara Sdn Bhd, Plascable Polymer Sdn Bhd, Tomei Gold & Jewellery Manufacturing Sdn Bhd and Healthy World Lifestyle Sdn Bhd. 

The award was organised by Nanyang Siang Pau and co-organised by The Asia Pacific Centre for SME and Nanyang Online. It was sponsored by Alliance Bank (M) Bhd, co-sponsored by Osim (M) Sdn Bhd and Global Business Network Sdn Bhd and managed by Artibiz (M) Sdn Bhd. 

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Next In Business News

CPO futures to see profit-taking activities next week
Leon Fuat cautious on demand of steel products as Covid worries weigh
Pertama Digital, Experian to jointly explore alternative credit scoring solutions
Some commodities have now wiped out all of their 2021 gains
Job value proposition
Digital bank race heats up
Short Position - What’s up at Euro?
Best is yet to come, says cash-rich Greatech
Turnaround projected for Ta Win Holdings
Robust growth in Asia is a major attraction for fund managers

Stories You'll Enjoy


Vouchers