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SME Corp. to continue empowering local SMEs with return of E50 award

Kuala Lumpur, 1 March 2022- After a two-year hiatus, the prestigious Enterprise (E50) Award that recognises the outstanding accomplishments of Malaysia’s top 50 enterprising SMEs is now back on track following its soft launch here today. The E50 Award is organised by SME Corp. Malaysia, an agency under the Ministry of Entrepreneur Development and Cooperatives. The guest of honour of the launch ceremony was Minister of Entrepreneur Development and Cooperative, Tan Sri Noh bin Haji Omar.

Since its inception in 1997, the award ceremony has served as an important barometer for SMEs to benchmark their business performance based on a reliable, impartial, and stringent evaluation conducted by independent industry players and experts. Its significance was highlighted by Noh in his keynote address to which he underscored the award as a brilliant showcase of Malaysian business success and a testament of true entrepreneurship.

“The E50 Award is commemorating yet another historic phase in its glorious journey with a momentous year in celebrating Malaysia’s enterprising spirit. This prestigious award is greatly acknowledged within the Malaysian Small and Medium Enterprise (SME) community as the symbol of excellence in business and entrepreneurship. It is an important accolade honouring the success of the industry’s crème-de-la-crème whose vision, leadership, tenacity and exceptional achievements serve as an inspiration to others,” said Noh.

“The elite group of E50 Award winners is a brilliant showcase of Malaysian business success and a testament of true entrepreneurship. They are flourishing in the industry with impactful accomplishments in the local, regional, and global markets. It is indeed gratifying for me to note that in their pursuit of success, they continue to achieve significant breakthroughs including playing an important role in the economic development of the country,” added Noh.

In his address, Noh also complimented SMEs for their roles in building a robust nation, a thriving economy and strategies that lead to innovation and digitalisation, sustainability and inclusive growth that are expected to create a conducive and inclusive entrepreneurial ecosystem.

“In the next five years, focus will be placed on accelerating the development of strategic and high impact industries, namely aerospace, creative, biomass and well as smart farming activities. Efforts will be aimed at promoting high technology adoption, talent upskilling, innovation and R&D to transform these industries into producing high value-added products and services, expanding global markets, and attracting quality investments,” added Noh.

Noh emphasised that the Malaysian government would remain responsive and committed to place special emphasis on the needs of SMEs into various facets of the stimulus packages to help ease their burdens during this pandemic.

“Since March 2020, a total of RM196 billion has been allocated to assist SMEs in weathering the impact of COVID-19 pandemic. The measures have been and are being implemented through ten comprehensive economic packages, which includes Belanjawan 2021 and Belanjawan 2022,” Noh highlighted.

As the country recovers from the Covid-19 pandemic, the Chairman of SME Corp. Malaysia, Syed Hussien echoed Noh’s view and said the need to rejuvenate SMEs that has been one of the most affected groups has also never been greater.

“With 95.3% experiencing a sharp decline in sales in the early period of containment.

The challenges posed by the Covid-19 pandemic requires a strong determination in ensuring that concerted efforts are undertaken to ensure that SMEs continue to survive,” said Syed Hussien.

As for the Award, Syed Hussien said it also intends to compliment these efforts by providing a reputable source for the international business community to identify potential trade partners from among the winners’ fraternity.

Adding to that, recipients of the award have also seen their businesses accelerated to new heights as being part of the exclusive “E50 club” allowed them to reap various benefits such as participation at international workshops and forums at the invitation of SME Corp. Malaysia, widespread media coverage and preferred business linkages with Multinational Corporations.

At the launch ceremony, ten SMEs from the E50 Alumni also received appreciation in various categories, the recipients have gone through a stringent “Business Health Check” by Deloitte Malaysia, one of SME Corp. Malaysia’s strategic partners. The categories were Best High Potential Company, Best Digitalised Company, Best Competitive Company, Best Young Entrepreneur, Best Woman Entrepreneur, Best High Potential company in the HALAL industry, Best Innovative and Creative Company, Best Branding Company, Best Company in Sustainability and Best Marketing Company.

The appreciation recipients were Ideal Healthcare Sdn. Bhd, Hexa Food Sdn. Bhd., Alypz Sdn. Bhd., Sonicon Construction Sdn. Bhd., Siti Khadijah Apparel Sdn. Bhd., Dewina Food Industries Sdn. Bhd., Sydney Cake House Sdn. Bhd., IForte Intelligence Sdn. Bhd., Respack Manufacturing Sdn. Bhd. and Benithem Sdn. Bhd.

According to Mr Rizal Nainy, the CEO of SME Corp. Malaysia, the E50 Award is the result of a public-private partnership led by SME Corp. Malaysia, and in collaboration with Deloitte Malaysia and other strategic partners. Apart from recognising the best SMEs in Malaysia, this award also provides a platform to foster entrepreneurial spirit and encourage SMEs to drive excellence, as well as compete for recognition that can boost their business status. Rizal added that he E50 nomination period begins today, from 1 March 2022 to 30 June 2022. It will culminate with the E50 Award 2022 Gala Dinner in November 2022 when all 50 winners will be announced. To date, a total of 503 companies have been nominated for the award. All the nominees have fulfilled 4-star & above rating from the SCORE Programme. Food and beverages, manufacturing, and manufacturing-related services as well as business and professional services have been the top three categories by industry. More information on E50, please visit http://www.e50.com.my

The launching ceremony of E50 was also graced with the presence of Deputy Secretary General MEDAC (Entrepreneurial Development), YBhg Datuk Haji Zamri Salleh, Chief Executive Officer SME Corp. Malaysia, En. Rizal Nainy, Head of Agencies under MEDAC and Board Members of SME Corp. Malaysia.