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SME SECTOR REMAIN BUOYANT IN 2017
Tuesday 12/12/2017
Leading SMEs registered 14.54% revenue growth, 6.93% profit growth
KUALA LUMPUR, Dec 12 (Bernama) -- The small and medium enterprises (SME) sector in Malaysia remain buoyant, with participants of the SME100 survey registering a 14.54 percent growth in revenue and a 6.93 percent growth in profit. This contrasts sharply with the GDP growth projection of 5.2 percent for the country as a whole.
The SME100 survey is conducted by SME Magazine, with the top 100 companies by business performance recognised with the SME100 awards. The survey and awards are conducted every year since 2009. This year, the SME100 awards are officiated by Dato’ Seri Ong Ka Chuan, Minister of International Trade and Industry II.
“Despite the global headwinds, our SMEs are gaining grounds. Much of these are the result of pent-up demands following several years of economic uncertainty, and a renewed regional focus with the AEC kicking in,” says Dato’ William Ng, managing director of Business Media International, the publishers of SME Magazine.
In officiating the awards, Dato’ Seri Ong Ka Chuan called for SMEs to embrace the Fourth Industry Revolution. “Moving forward, SMEs must scale their operations and their capability through the use of technology. The government is committed to helping our businesses to adopt technology, and embrace the digital and innovation economy”, he said.
TECHNOLOGY SECTOR CONTINUES TO LEAD
Among the winners that make up the SME100 Awards, 19 percent came from the ICT and telecommunications sector, followed by 11 percent from the transportation and logistics sector, with furniture and wood-based industry in the third place with 9 percent of the winning companies.
The construction, property development and building materials sector saw a tumble, dropping from occupying 15 spots in the ranking to only 6 companies represented in the SME100 this year. The oil and gas, mining and energy sector, which claimed third place in 2016, fell to sixth place with only 7 companies representing the industry, less than half of the previous year.
“It is quite clear that while the oil and gas and construction sectors are currently experiencing a correction phase, the technology sector is growing rapidly. A surprise resurgence is our furniture and wood-based industry, which has also seen robust growth following increased demand from Europe and East Asia”, Ng said.
TOP 10 ANNOUNCED
While the top 100 companies in the survey were selected to receive the SME100 awards, the most outstanding 10 were also named. They are (in alphabetical order): - Accendo HR Solutions Sdn Bhd
- Bridgenet Solutions Sdn Bhd
- Central Medicare Sdn Bhd
- Everest Integrated Logistics Sdn Bhd
- HTC Travel Services (M) Sdn Bhd
- Masterplan Consulting Sdn Bhd
- Nestcon Builders Sdn Bhd
- Neu Dimension Sdn Bhd
- PE Mixed Sdn Bhd
- Sulomas Sdn Bhd
“It is important that SMEs plan beyond their current capability and act fast to reskill and rescale themselves in the face of a changing market. It is quite clear that business as usual is no longer possible. We must change or be changed,” added Ng.
Also present at the SME100 awards ceremony were former second Finance Minister Dato’ Seri Ahmad Husni Hanadzlah, CEO of MATRADE, Dr Mohd Shahreen Zainooreen Madros and deputy CEO of SME Corp, Rizal Nainy.
The SME100 awards are sponsored by AffinBank Group, CTOS Data Systems Sdn Bhd, and MAB Kargo Sdn Bhd.
About Business Media International
Business Media International is a leading business-to-business media owner with products ranging from printed publications and online portals to exhibitions and business awards. These include brands such as SME Magazine, HR Asia, Capital Asia, Mega Career Fair, SME Solutions Expo, Post Graduate Education Fair, ITX Asia, SME 100 and more.
Table 1: SME100 in Brief | Number of Industries | 20 | | Average revenue | RM18,066,823 | | Average revenue growth | 14.54% | | Average net profit growth | 6.93% | | Average operating profit growth | 9.40% | | Average gross margin | 4.76% |
Table 2: SME100 Winners Industrial Breakdown | ICT & Telecommunication | 19 | | Transportation & Logistics | 11 | | Furniture & Woodbased Manufacturing | 9 | | Professional & Business Services | 8 | | Trading & Wholesaling | 8 | | Food & Beverage | 7 | | Healthcare, Pharmaceutical & Biotechnology | 7 | | Oil & Gas, Green Tech, Mining | 7 | | Construction, Property Development & Building Materials | 6 | | Education & Training | 4 | | Hospitality, Food Service & Tourism | 3 | | Automotive | 3 | | Industrial & Commercial Products | 2 | | Electrical & Electronic | 2 | | Chemical & Plastics | 1 | | Civil Engineering | 1 | | Consumer Goods | 1 | | Retail | 1 | | Personal Services | 1 | | Agriculture, Livestock, Plantations And Commodities | 1 |
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