30 years of empowering MSMEs

The Star

01-08-2025

KUALA LUMPUR: The Credit Guarantee Corporation Malaysia's (CGC) 30th FI/DFI & SME Awards 2024 marked three decades of nurturing growth and resilience within the country's micro, small and medium enterprise (MSME) sector.
The prestigious awards ceremony, held yesterday at Hilton Kuala Lumpur, was officiated by Bank Negara governor Datuk Seri Abdul Rasheed Ghaffour, underscoring the national significance of CGC's mission in empowering MSMEs and mid-tier companies (MTCs) as key drivers of economic development.
CGC chairman Datuk Moham­med Hussein as well as president and chief executive officer Datuk Mohd Zamree Mohd Ishak were present at the event.
Also in attendance were chairmen and chief executive officers from leading financial institutions (FIs), development financial institutions (DFIs), Islamic financial institutions (IFIs), MTCs and MSMEs, as well as representatives from trade chambers, related agencies and the media.
Star Media Group Bhd group chief executive officer Chan Seng Fatt, chief operating officer Lydia Wang and senior general manager Sharon Lee were among the guests.
Awards were presented across three categories – Top FI Partner Awards, Merdeka Awards and SME Awards – recognising 24 outstanding recipients for their contributions in financing, innovation and entrepreneurial success.
In his special address, Abdul Rasheed said micro and SMEs are the backbone of the economy, accounting for 97% of business establishments, 39% of GDP and nearly half of total employment.
'MSMEs are central in our journey to drive innovation, create jobs and foster economic growth and diversification,' he added.
For 2024, CGC recognised top-­performing financial partners and exemplary MSMEs for their contributions to the sector.
CIMB Islamic Bank Bhd was named Best Financial Partner, Top Islamic FI Partner and Top Bumiputera SMEs FI Partner.
Other leading institutions such as Alliance Bank Malaysia Bhd, OCBC Bank (M) Bhd and Standard Chartered Bank Malaysia Bhd were recognised as Top Con­ventional FI Partners.
OCBC Al-Amin Bank Bhd and Standard Chartered Saadiq Bhd were named among the Top Islamic FI Partners, while Bank Simpanan Nasional was awarded Top FI Partner – imSME.
Special recognition went to Bank Muamalat Malaysia Bhd for New Strategic Partnership, while Alliance Bank Malaysia Bhd, Bank Kerjasama Rakyat Malaysia Bhd and Bank Simpanan Nasional received awards for Innovation Excellence.
Commemorating the success of MSMEs and MTCs, the Merdeka Awards were presented to Serai Group, Keyfield International Bhd, VSD Automation Sdn Bhd, Gading Kencana Sdn Bhd and Mydin Mohamed Holdings Bhd.
Shopee Mobile Malaysia Sdn Bhd received the Merdeka Digital Excellence Special Recognition for its efforts in empowering MSMEs through digital platforms.
Other top performers included the recipients of the SME Awards, comprising MFZ Izdihar Enter­prise, A&Z North Rich Trading and Era Kejuruteraan for G1 and G2 contractors, and Rintiz Rezky (M) Sdn Bhd, LP Group Sdn Bhd and Perawah Enterprise for G3 contractors and above.
The CGC Developmental Award recognised the sales growth and potential of Nozoly Food Industry Sdn Bhd, Jaqued Holdings Sdn Bhd and TLE Trading Sdn Bhd over 24 months.
Mohammed said CGC is very much like that of a gardener.
'We plant, nurture and harvest. And, in between, whenever there's a severe catastrophe, we play a rehabilitative role. Embra­cing this philosophy of 'economic gardening', we nurture MSMEs from root to harvest,' he added.
CGC remains steadfast in its mission to provide financial assistance to MSMEs and MTCs that are unserved and underserved by traditional financing avenues.
It aims to promote the growth and development of competitive, dynamic and viable businesses through targeted assistance, encompassing both financial and non-financial support.
As of 2024, CGC has facilitated guarantees and financing worth over RM99.4bil through financial institutions, benefiting more than 532,000 MSMEs.