Malaysian SMEs Achieves Growth as Economy Recovers

Kuala Lumpur, 25 December 2021 – 2021 is a roller-coaster year for Malaysian SMEs; with the extended lock down deeply impacting growth. As the economy gradually reopens, SMEs are once again hopeful for a strong recovery.  

Despite the challenging environment faced by SMEs throughout the year, an astounding 126 Malaysian SMEs have emerged as winners of the 2021 SME100 Awards jointly organised by Business Media International and Small and Medium Enterprises Association of Malaysia (SAMENTA). They are among the 700 Malaysian companies that were in the selection of becoming the SME100 Fast Moving Companies of 2021.   

On top of SMEs winning the prestigious SME100 Awards, there are also four other awards which has been awarded to several SMEs, including the iconic SME100 CTOS Credit Excellence Award and SME100 Affin SME Icon Award. The BMI VISA Sustainable Brand Awards returns for the second year and the inaugural BMI Affingem Women Entrepreneur Awards is introduced this year to recognised women in leadership of SMEs.  

This year, SME100 continues to adopt one of the most stringent evaluation criteria for all nominees. The five-step process included both qualitative and quantitative analysis, as well as a 100 percent interview requirement with a focus on growth (turnover, profit, and market share) and resilience (best practices, sustainability, and vision). CTOS is the official credit reporting agency of SME100, and Baker Tilly is official auditor with Affinbank and VISA sponsoring the 2021 SME100 Awards as platinum sponsors. 

“As SMEs tend to be more vulnerable to economic cycles, we can see from the award recipients that they have demonstrated resilience, strength and growth despite the challenges.” said Datuk William Ng, group publisher and editor-in-chief of Business Media International and chairman of SAMENTA.  

Malaysia’s largest electrical products retailer Senheng and leading university HELP University received the SME100 Affin SME Icon Award.  

The SME100 Awards serves as a pinnacle of trust and benchmark of reliability for business owners. Be it for business ventures or attracting investors and clients in both foreign and domestic markets alike, the SME100 Awards has become the beacon of attention on all platforms that matter across all industries.  

Malaysia is one of the four ASEAN member countries to organise SME100 Awards, besides Singapore, Vietnam, and Indonesia. For more information, please visit http://sme100.asia.