by Simon Ingka Crown. Posted on May 12, 2011, Thursday
GROWTH OPPORTUNITY?: Abang Johari (second right) fielding questions from reporters after the launch of ‘SMEsuccess’. Also in the picture are (from left) SME Factors’ MD Syed Zed Al Qudsy, Assistant Minister of Tourism Datuk Talib Zulpilip and Assistant Minister of Planning and Resource Management Mohd Naroden Majais. — Photo: Chimon Upon.
SMEsuccess provides support to small, medium enterprises in terms of cash flow
KUCHING: Cash flow problems faced by small and medium enterprise (SME) operators in the state may soon be a thing of the past following the launching of ‘SMEsuccess’ here yesterday.
Minister of Housing and Urban Development Datuk Amar Abang Johari Tun Openg said SMEsuccess by SME solution provider SME Factors Sdn Bhd would enable small firms to survive or to make their operations more robust.
“The launching of SMEsuccess by SME Factors marks a milestone for the progress of contractors in the state.
“This is the time for entrepreneurs to make use of this facility to strengthen their businesses,” he said at the launching here.
He added that through the Economic Transformation Programme (ETP), the 10th Malaysia Plan and Sarawak Corridor of Renewable Energy (SCORE), various key industries would be promoted and developed to take an active part in the development.
As such, Abang Johari, who is also Tourism and Heritage Minister, said there would be many sectors which SMEs could serve.
“Now Bakun dam is wide open to be further developed in terms of tourism.
“It has a large dam and it can be turned into a nice resort right in the heart of Borneo.
“It is splendid and amazing to have a resort deep in the forest. Maybe our SMEs can take this opportunity to develop it.”
SME Factors, a Petaling Jaya-based company is licensed by Bank Negara Malaysia and the Ministry of Finance.
It specialises in providing cash flow solutions to all types of SMEs, regardless of industry or size, from a minimum of RM20,000 to a maximum of RM5 million.
For Sarawak this year, RM100 million had been allocated to 100 contractors.
Results from all applications could be known within 48 hours.
SME Factors’ managing director Syed Zed Al Qudsy, who was also present, said the rapid economic and industrial development taking place in Sarawak had been very impressive.
“Sarawak must have laid all the right measures to attract investors and entrepreneurs to build and develop the state’s economy together.
“This business approach must be continued and emulated by other states,” he said.
Syed Zed said SME Factors would continue to provide aids to help grow the SME sector.
With projects worth RM300 billion underway, Syed Zed said its benefits would trickle down to benefit many quarters, especially the SME entrepreneurs and contractors.
Among those present were Assistant Minister of Tourism Datuk Talib Zulpilip and Assistant Minister of Planning and Resource Management Mohd Naroden Majais.
