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SME100

SME100 Celebrates Successful Businesses in Asia, Reflecting Growth and Resilience

December 6, 2024

Malaysian SMEs continue to demonstrate remarkable growth and resilience, as proven by the massive response at the SME100 Awards – organised by SME Magazine and the Small and Medium Enterprises Association of Malaysia (SAMENTA) – honouring outstanding SMEs for their exceptional achievements in various industries since 2009.

The awards ceremony was officiated by the Minister of Entrepreneur Development and Cooperatives, Datuk Ewon Benedick, who also presented the awards to the winners. In his keynote address, the minister highlighted the MADANI government’s commitment to fostering a supportive ecosystem for SMEs under the leadership of Prime Minister Datuk Seri Anwar Ibrahim, emphasising initiatives such as policy frameworks, financial assistance, market access, and capability building to drive SME growth and success.

For this year’s award programme, the organiser saw another record-breaking 1,279 nominations, which is a 17% increase from 2023. This surge underscores the growing acknowledgment of SMEs’ vital contribution, which accounted for 39.1% of Malaysia’s GDP last year.

On this, SAMENTA Organising Chairman and National President, Datuk William Ng said, “The SME100 Awards continue to underscore the entrepreneurial excellence of our SMEs, highlighting their contributions as key drivers of economic growth. With strong support from the government and a commitment to innovation, our SMEs are well-positioned to take on global challenges and opportunities.

“These businesses exemplify resilience and ingenuity, paving the way for a more dynamic and competitive economy. As we celebrate their achievements, we remain committed to empowering SMEs to scale new heights and shape a brighter future for Malaysia.”

The SME100 Awards maintained its stringent evaluation process, combining qualitative and quantitative assessments, and a 100% interview requirement. Key metrics included turnover, profit, market share, sustainability, and best practices. Data for the rankings was provided by CTOS, with Baker Tilly as the official auditor, ensuring transparency and credibility.

Additionally, three other awards were presented at the SME100, including the SME100 CTOS Credit Excellence Awards, BMI Sustainable Brand Awards, and BMI Women Entrepreneur Awards, with Affin Bank sponsoring the latter two categories.

Today, the SME100 Awards have become a hallmark of trust and reliability, with past winners such as Grab, Mynews Holdings Bhd, and Solarvest Holdings Bhd going on to achieve public listing. Beyond Malaysia, the SME100 Awards are also celebrated in Indonesia, Singapore, and Vietnam, solidifying its regional impact.

This year, a majority of the winners hailed from the services sector, including retail and wholesale, professional and business services, IT, and education.

The manufacturing sector came in second, followed by construction and agriculture. This aligns with the findings of the 2023 MSME Performance Report by the Department of Statistics Malaysia, which highlighted a 6.5% increase in sectoral GDP for the services sector, compared to 5% growth across all SMEs.

For more information about the SME100 Awards 2024 Malaysia, please visit http://sme100.asia.