THE top two winners of the Golden Bull Award 2005, awards solely for small- and medium-scale enterprises (SMEs), believe that branding and human resources development are key factors contributing to their success.
Hung Tai Import and Export (M) Sdn Bhd director Lynna Lau said establishing a strong brand was important for the company, and as a first time participant to the annual awards, the win came as a surprise.
We have always spent a significant amount on branding and expect to increase expenditure by 10% in the coming financial year, she said in an interview yesterday.
Hung Tai, which imports car accessories, expects to have at least five outlets in the country by next year. It also plans to open several outlets in Vietnam, Thailand, Japan and South Korea in the next few years.
Its turnover for the financial year ended June 2004 was RM600mil, and among its subsidiaries, is Brother's Sdn Bhd.
Hung Tai and Next Telecommunications Sdn Bhd clinched the top positions for the Outstanding SMEs category.
The event is organised by Nanyang Siang Pau Press Holdings Bhd and Expomal International Sdn Bhd, and the winners will receive a trophy and certificate at a dinner on Sept 23.
Deputy International Trade and Industry Minister Datuk Mah Siew Keong released the list of the 111 award winners at a ceremony in Kuala Lumpur yesterday.
For Next Telecommunications, its success lies in its efforts to promote good relations among its employees. Its senior finance manager Tan See Meng said the company exercised five core values, which included areas such as on-time decision making, improving working processes and fulfilling promises to clients.
We believe that people or employees are the asset for any company to grow. We maintain good working relationships through our discussions and company trips to recognise their performances, he said.
For this year, most of the entries were from the manufacturing sector at 47%, followed by SMEs from the wholesale, distribution and retail sectors at 28%.
This year also saw first-time participation from companies in Sabah and Sarawak.
Companies need to maintain an annual turnover of at least RM5mil, but below RM75mil, to qualify for the Outstanding SME category. They are assessed on their growth in profits, turnover and sales.