KUCHING: SME Bank’s Upward Migration intervention programme aimed at elevating its customers’ businesses has proven to be successful with 10 companies from Johor recording outstanding performances.
These 10 companies received recognition from Entrepreneur Development and Cooperatives (Medac) Minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar during his working visit to Johor today.
“Their successes were measured either by increase in sales and revenue, number of employees, export revenue, and technology adaptation. Overall, SME Bank has nurtured nearly 2,000 small and medium enterprises (SMEs) nationwide through the Upward Migration Programme.
“These 10 companies received total financing worth RM24.5mil and for the state of Johor as a whole, SME Bank recorded financing approvals worth RM209mil to 197 SME entrepreneurs which was approved by its two branches in 2020.”
He said Medac would like to see more SME entrepreneurs including micro-enterprises, cooperatives, social entrepreneurs, start-ups, and informal entrepreneurs continue to be assisted in terms of financing, capacity building, and training.
Meanwhile, SME Bank Group chief corporate strategy officer Mohammad Hardee Ibrahim said in line with the mandate given by the government, SME Bank served to uphold the SME economy through its beyond financing assistance.
“As a Development Financial Institution that has been nurturing and developing SME entrepreneurs, SME Bank is fully aware of the daunting challenges they are facing especially during the pandemic.
“The message we want to convey to all SME entrepreneurs out there is that SME Bank is very committed and fully prepared to help SME entrepreneurs to once again rise and revitalise the country’s economic activities.”
To date, since its inception in 2005, SME Bank has approved financing worth over RM34bil to more than 19,000 customers.
Its subsidiary, the Centre for Entrepreneur Development and Research Sdn Bhd has trained over 59,000 participants in various entrepreneur development programmes.