Strong Resurgence for Malaysian Businesses

Kuala Lumpur, 11 November 2021– As Malaysia took a beating economically with our GDP contracting by 5.6 percent in 2020, SMEs were particularly hard hit by the pandemic. However, as the economy reopens, Malaysia’s GDP is expected to grow between 3 to 4 percent in 2021.

Among those leading the charge are winners of the Golden Bull Award 2021 who have proven that strength, agility, and decisive action are factors in overcoming the pandemic. With minimal assistance from the government, these Malaysian SMEs successfully adapted and evolved their business model and strategies to survive and thrive amidst the pandemic.

Datuk William Ng, organising chairman of the Golden Bull Award, said, “the common traits of these successful SMEs, who thrived despite the pandemic, are that they have a strong business foundation and were quick to adapt to the adverse situation”.

The Golden Bull Award, the first award for SMEs in Malaysia, is first organised in 2003. The Award, organised by Business Media International, has since expanded into China, Taiwan and Singapore. 

A total of 3 different categories were open for competition, including Emerging SMEs, Outstanding SMEs, and the coveted Super Golden Bull Award, categorised respectively according to annual turnover. A total of 818 companies were nominated, and 148 companies across all three categories claiming the Award.

“The Golden Bull Award symbolises “Strength and Growth”. This year, it also represents resilience, and the idea that we must not give up, no matter how tough the road ahead will be”, said Ng.

Dignitaries at the award presentation included Senator Datuk Lim Ban Hong, Deputy Minister of Ministry of International Trade and Industry, Rizal Nainy, CEO of SME Corporation Malaysia, Ahmad Khairuddin Abdul Rahim, deputy CEO of MIDA, Datuk Alexandra Chin JP, director of Audience Analytics Limited, Dato’ Lock Peng Kuan, managing partner of Baker Tilly Malaysia, Dato’ Koay Chiew Guan, immediate past president of the Small and Medium Enterprises Association of Malaysia (SAMENTA), and Datin Zainon Bakar, Deputy Director General of Malaysia Productivity Corporation (MPC).

The Official Auditor of the Golden Bull Award is Baker Tilly Malaysia, while the Official Credit Reporting Agency is CTOS Data Systems Sdn Bhd. Judges include SAMENTA’s Koay, and academic leaders such as University of Malaya’s Prof. Dr. Che Ruhana Isa, USCI’s Senior Prof. Ts. Dr. Ooi Keng Boon and Universiti Tunku Abdul Rahman’s Dr. Au Yong Hui Nee.