SME Corp launches E50 awards, urges women to take part

By Lum Ka Kay April 6, 2016

Women-owned SMEs represent 19.7% of all SMEs in Malaysia
E50 awards to inspire and motivate others

SME Corp launches E50 awards, urges women to take part

SME Corporation Malaysia has launched its annual awards programme, Enterprise 50 (E50), with its chairman Dr Mohamed Al Amin Abdul Majid urging more women-owned SMEs (small and medium enterprises) to take part.

“This year, we would like to see greater participation from women-owned SMEs, which represent 19.7% of all SMEs in Malaysia,” he said.

“Women entrepreneurs have undeniably marked the Malaysian business landscape with their remarkable successes – locally and globally – and their growing contribution to the economy,” he said at the E50 launch in Kuala Lumpur on April 5.

Mohamed said the importance of women in business must be promoted and showcased because they represent 49% of Malaysia’s total population.

“Hence, I would like to call on women-owned companies to take part in E50 2016 to seize the wealth of opportunities and benefits, and above all, set the standards of achievement for others to emulate,” he said.

He also described E50 as a vital platform to highlight the success of Malaysian SMEs, as well as to inspire and motivate other SMEs to excel and rise above challenges.

E50 is supported by Malaysia’s Ministry of International Trade and Industry (MITI) and is jointly organised by SME Corp and Deloitte Malaysia.

To date, the programme has attracted 1,854 participants over the years, and 60 of the 621 companies have gone on to list on Bursa Malaysia – 46 companies on the main board and 14 on the ACE Market.

The nomination period has already begun and ends June 5. The programme will culminate with the announcement of 50 winners at the E50 Awards 2016 Gala Dinner on Nov 18.

To be eligible, companies must:

Fulfil the definition of SMEs and be locally incorporated, with at least 40% local equity;

Score four stars or above in the SME Competitiveness Rating for Enhancement (SCORE) rank;

Not be listed on Bursa Malaysia, nor ACE Market; and

Have three years of audited financial records.

According to Mohamed, the selection process will involve both financial and non-financial evaluations.

“A stringent auditing process will be conducted by qualified evaluators from Deloitte Malaysia, while the non-financial evaluation will be done by SME Corp, industry partners and business councillors,” he said.

Winners will also be automatically nominated for the Industry Excellence Awards and the National Productivity Awards organised by MITI and Malaysia Productivity Corporation.

“E50 winners will also receive privileged trade and industry leads from Deloitte that would enable them to develop business strategies for penetrating new markets,” said Mohamed.

“We will also invite the winners to participate in forums and workshops at the international level, and to forge business linkages with multinational corporations,” he added.

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