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 Bhd3 Day’s Furniture Sdn BhdAdvantage Marine Services (Malaysia) Sdn BhdAirei Sdn BhdAlltank Solutions Sdn BhdArmada Cekap Sdn BhdArmada Parts Sdn BhdBest Crew Sdn BhdBusiness Boutique Hotel Management Sdn BhdByond Tech Global BerhadC.H.S. Steelworks Sdn BhdChef Direct Sdn BhdCreative Concept Resources Sdn BhdD Jungle People Sdn BhdD&B Energy Sdn BhdDOREMi Sound & Light Sdn BhdDutamas Semesta Sdn BhdEastern Suntech Engineering & Construction Sdn BhdEintegrity Solutions Sdn BhdEmax Beauté International Sdn BhdEnergyhub Battery Sdn BhdEnrich Package (Malaysia) Sdn BhdEnvicion Studio Sdn BhdEstylo Sdn BhdEtronix Sdn BhdEventistry Event ManagementGamer2Gamer Sdn BhdGary Chong StudiosGCFO Capital Sdn BhdGlobal Ai Logistics Sdn BhdGlobal Concord Logistics (M) Sdn BhdGoldfinch Jewelry Sdn BhdGreat Cosmo Industries Sdn BhdHBT Food & Beverage Sdn BhdHitec Metal Sdn BhdHMN Nadhir Sdn BhdIDPM Sdn BhdIMPACTO Sdn BhdIMT Tech Sdn BhdIn-Source Options Sdn BhdInfinic Plastic Technology Sdn BhdIPS Software Sdn BhdJoeyees Trading Sdn BhdJVG Bina Sdn BhdKedai Pajak Well Chip Sdn BhdKKBS Curtain Sdn BhdLee Ming Press Sdn BhdLinear Channel Sdn BhdLipoh Roller Shutters Sdn BhdLuna Clinic Sdn BhdM&D Precision Sdn BhdMaharaja Textiles Sdn BhdMalex Paper Products Sdn BhdMamami Shoppe (M) Sdn BhdMCE Marketing Sdn BhdMid Ventures Sdn BhdMIR Maju Enterprise Sdn Bhd (Quikmaster)Mirack Technologies Sdn BhdMMA Freight Services Sdn BhdMonkeycloud Media Sdn BhdNastah Industries Sdn BhdNeuropower (M) Sdn BhdNext Energy Sdn BhdNexxG Worldwide Sdn BhdNicholas Actuarial Solutions Sdn BhdNine Packaging Sdn BhdNS Wealth SolutionOkieee Studios Sdn BhdOne Maker Group Sdn BhdPK Furniture System Sdn BhdPlatinum Podium Sdn BhdPolymeric Technology Sdn BhdPublic Medicare Group Sdn BhdRedefined Mortgage Specialist Sdn BhdRM Applications Sdn BhdRocketbots Malaysia Sdn Bhd (respond.io)San Engineering And Electrical Support Sdn Bhd       Servedeck Innovation Sdn BhdSF Techlogis Sdn BhdShinsei Malaysia Sdn BhdSHT Engineering Sdn BhdSiacon Technology Sdn BhdSin Lian Seng & Sons Sdn BhdSM Digital Innovation Sdn BhdSri Ternak Mart (SK) Sdn BhdSumitec Sdn BhdSuria Dan Sonne Sdn BhdSWM Environment Sdn BhdTea Garden Food Supply Sdn BhdTechies App Technologies Sdn BhdTeraju Pharma Sdn BhdTohs Daily Food Sdn Bhd (Toh’s Daily)V Fifth Group Sdn Bhd (VF Properties)Vista Infinity Development Sdn BhdWagro Trading Sdn BhdWoodpeckers Group Sdn BhdWork Inspire Resources Sdn BhdYoshitec Precision Engineering (M) Sdn BhdZeo Asia Sdn BhdZW 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 BhdEtronix Sdn BhdKedai Pajak Well Chip Sdn BhdKKBS Curtain Sdn BhdPolymeric Technology Sdn BhdSF Techlogis Sdn BhdSin Lian Seng & Sons Sdn BhdSumitec 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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