Latest news with #CEDAR
New Straits Times
18 hours ago
- Business
- New Straits Times
5,735 entrepreneurs empowered by SME Bank programmes
KUALA LUMPUR: Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank), a subsidiary of Bank Pembangunan Malaysia Bhd, has empowered 5,735 entrepreneurs in the first half of the year. This is more than double the 2,225 entrepreneurs supported during the same period last year. Acting president and chief executive officer Datuk Dr Mohammad Hardee Ibrahim said the achievement was enabled through the Centre for Entrepreneur Development and Research (CEDAR), which is the bank's capacity-building and training arm. Among the beyond financing programmes entrusted to SME Bank is the Maju Usahawan Madani programme, which was introduced to strengthen the micro, small and medium enterprises (MSME) ecosystem. Hardee said the programme aims to assist 3,000 micro entrepreneurs until March next year. Up to June, 1,632 entrepreneurs have benefited from the initiative, including MSMEs from the Bumiputera community, youth, rural areas, Bottom 40 income group, asnaf (hardcore poor), senior citizens and persons with disabilities. CEDAR has also been appointed as an Asean Centre of Excellence for MSMEs in Green Transition, a recognition listed among the Priority Economic Deliverables under Malaysia's Asean chairmanship. "This milestone affirms SME Bank's leadership in shaping a more sustainable and inclusive future for enterprises, both at home and across Asean," he said. Meanwhile, the Halal Entrepreneurship Development Programme has supported over 400 participants since 2023, and the Program Pembangunan Kapasiti Vendor has onboarded 109 participants with RM15.87 million worth of incentives. The business exports programme has facilitated RM191.93 million in export sales through the onboarding of 98 companies across key global markets. The programme is a structured intervention funded by the Entrepreneur and Cooperatives Development Ministry in collaboration with the Malaysia External Trade Development Corp. It has also generated 182 new jobs, enabled 314 entrepreneurs to adopt new technologies and facilitated the creation of 224 business networks. SME Bank said it will continue to play a pivotal role in advancing the MSME agenda with RM1 billion worth of strategic initiatives. They include delivering both financing and beyond financing support for Bumiputera entrepreneurship, technology and innovation, ESG adoption, the halal economy and tourism.
The Star
a day ago
- Business
- The Star
SME Bank empowers 5,735 entrepreneurs in 1H25, up 158%
SME Bank acting group president/chief executive officer Datuk Mohammad Hardee Ibrahim. KUALA LUMPUR: Small Medium Enterprise Development Bank Malaysia (SME Bank) has empowered 5,735 entrepreneurs in the first half of 2025 (1H 2025), an increase of 158 per cent against the 2,225 entrepreneurs recorded in 1H 2024. In a statement today, the subsidiary of Bank Pembangunan Malaysia Bhd said the achievement was driven by its dedicated capacity-building and training arm, the Centre for Entrepreneur Development and Research (CEDAR), which serves as the lead implementer. SME Bank acting president and chief executive officer Datuk Dr Mohammad Hardee Ibrahim said that among the beyond-financing programmes entrusted to the bank was the Maju Usahawan MADANI programme, introduced to strengthen the micro, small and medium enterprises (MSMEs) ecosystem through targeted capacity-building. "Spanning from January 2025 to March 2026, the programme aims to assist 3,000 micro-entrepreneurs. As of June 2025, a total of 1,632 entrepreneurs have benefited from this initiative, including MSMEs from the Bumiputera community, youth, rural areas, the bottom 40 per cent (B40) income group, Asnaf, senior citizens and persons with disabilities. "On the regional stage, CEDAR has also been appointed ASEAN's Centre of Excellence for MSMEs in Green Transition, a recognition listed among the Priority Economic Deliverables for Malaysia's ASEAN Chairmanship in 2025. This affirms SME Bank's leadership in shaping a more sustainable and inclusive future for enterprises, both domestically and across ASEAN,' he said. Meanwhile, SME Bank said the Halal Entrepreneurship Development Programme has supported over 400 participants since its launch in 2023, and the Program Pembangunan Kapasiti Vendor has onboarded 109 vendors with RM15.87 million in approved incentives. "As of 2024, 28 per cent of the vendors recorded at least a five per cent increase in revenue, contributing to total vendor revenue of RM1.23 billion. "The Business Exports Programme, a structured intervention programme funded by the Ministry of Entrepreneur and Cooperatives Development and in collaboration with the Malaysia External Trade Development Corporation, has facilitated RM191.93 million in export sales through the onboarding of 98 companies across five phases,' it added. The SME Bank XCESS, the bank's flagship business matching platform, continues to serve as a conduit for Malaysian SMEs to access international markets, with this year's edition, XCESS 2025, scheduled for Sept 25, 2025, in Kuala Lumpur, it said. Complementing this, the SME Bank iTEKAD ISHRAF, a structured Asnaf entrepreneurship empowerment programme under Bank Negara Malaysia's iTEKAD initiative, has collectively recorded a 126 per cent increase in sales, amounting to RM19.25 million. The programme has also generated 182 new jobs and enabled 314 entrepreneurs to adopt new technologies and facilitated the creation of 224 business networks. Looking ahead, SME Bank said it will continue to play a pivotal role in advancing the MSME agenda, with over RM1 billion in strategic initiatives mandated to the bank under the National Budget 2025, including delivering both financing and beyond-financing support across key strategic sectors. - Bernama
New Straits Times
a day ago
- Business
- New Straits Times
SME Bank empowers over 5,730 entrepreneurs in first six months of 2025
KUALA LUMPUR: Small Medium Enterprise Development Bank Malaysia (SME Bank), a subsidiary of Bank Pembangunan Malaysia Bhd, has empowered 5,735 entrepreneurs in the first half of 2025. This is more than double the 2,225 entrepreneurs supported during the same period in 2024. Acting president and chief executive officer Datuk Dr Mohammad Hardee Ibrahim said the achievement was supported by the bank's capacity building and training arm the Centre for Entrepreneur Development and Research (CEDAR). Among the beyond financing programmes entrusted to SME Bank is the Maju Usahawan Madani programme, which was introduced to strengthen the MSME ecosystem through targeted capacity-building, he said in a statement. Mohammad Hardee said between January 2025 and March 2026, the programme aims to assist 3,000 micro entrepreneurs. As of June, a total of 1,632 entrepreneurs benefited from the initiative, including MSMEs from the Bumiputera community, youth, rural areas, B40 income group, Asnaf, senior citizens and persons with disabilities. CEDAR has also been appointed Asean's Centre of Excellence for MSMEs in Green Transition, a recognition listed among the Priority Economic Deliverables for Malaysia's Asean chairmanship in 2025. "This milestone affirms SME Bank's leadership in shaping a more sustainable and inclusive future for enterprises, both at home and across Asean," he said. Meanwhile, the Halal Entrepreneurship Development Programme has supported over 400 participants since its launch in 2023, while the Program Pembangunan Kapasiti Vendor has onboarded 109 vendors with RM15.87 million incentives approved. The Business Exports Programme has facilitated RM191.93 million in export sales through the onboarding of 98 companies across key global markets. The programme is a structured intervention programme funded by the Entrepreneur and Cooperatives Development Ministry and in collaboration with the Malaysia External Trade Development Corp. The programme has also generated 182 new jobs, enabled 314 entrepreneurs to adopt new technologies and facilitated the creation of 224 business networks. SME Bank said it will continue to play a pivotal role in advancing the MSME agenda with over RM1 billion strategic initiatives mandated to the bank under the National Budget 2025. This includes delivering both financing and beyond financing support across key strategic sectors such as Bumiputera entrepreneurship, technology and innovation, ESG adoption, the halal economy and tourism.
Business Wire
26-06-2025
- Business
- Business Wire
Community Trust Bancorp, Inc. Announces the Appointment of David L. Baird to Its Board of Directors
PIKEVILLE, Ky.--(BUSINESS WIRE)--Community Trust Bancorp, Inc. (NASDAQ: CTBI) is pleased to announce the appointment of David L. Baird to its Board of Directors. A native of Pikeville, Kentucky, Mr. Baird is an attorney and shareholder at Baird & Baird, P.S.C. in Pikeville, Kentucky. He earned a Bachelor of Science degree from the Richard T. Farmer School of Business at Miami University (Ohio). He earned his Juris Doctor from the Salmon P. Chase College of Law at Northern Kentucky University in Highland Heights, Kentucky. Mr. Baird's legal practice has concentrated on Mineral and Environmental Law, Real Property and Contract Litigation, Business Transactions, Bankruptcy (Creditor) and General Practice. He is a member of the Kentucky Bar Association and the Pike County Bar Association. He is admitted to practice in all courts in the Commonwealth of Kentucky, the United States District Courts in both the Western and Eastern District of Kentucky, and the United States Court of Appeals for the Sixth Circuit. Mr. Baird is a member of the Board Directors of Pikeville Medical Center, Inc., The Elliott Company, Hocker Developments, Inc., and the Pike County Regional Airport Board. He was a member of the Board of Directors of the Southeast Kentucky Chamber of Commerce from 2014 through 2019, serving as its Chairman in 2018. He also serves on the Board of Sandy Valley Habitat for Humanity, The Rotary Club of Pikeville and regional education initiative, Community Economic Development and Revitalization (CEDAR). He and his wife Lisa live in Pikeville with their three children where they are members of the Pikeville United Methodist Church. "We are very pleased to have Mr. Baird join the Board of Directors of Community Trust Bancorp, Inc. He brings a level of experience and knowledge which makes him a valuable addition to our Board," said Mark A. Gooch, Chairman, President and CEO of Community Trust Bancorp, Inc. Community Trust Bancorp, Inc., with assets of $6.3 billion, is headquartered in Pikeville, Kentucky and has 72 banking locations across eastern, northeastern, central, and south central Kentucky, six banking locations in southern West Virginia, three banking locations in Tennessee, four trust offices across Kentucky, and one trust office in Tennessee.
The Star
13-06-2025
- Business
- The Star
Funding societies partners with Cedar to tackle SME financing challenges
Funding Societies group chief executive officer Kah Meng Wong (left) and SME Bank, group chief digital and technology officer Hairil Izwar Abd Rahman. KUALA LUMPUR: Funding Societies Malaysia has signed a participation agreement with SME Bank Malaysia Bhd through the Centre for Entrepreneur Development and Research (CEDAR) to address financing challenges faced by Malaysian small and medium enterprises (SMEs). In a joint statement, Funding Societies said the strategic partnership reflects a commitment to mobilise up to RM50 million in financing to support credit access for Malaysian SMEs within CEDAR's business community. "The collaboration aims to deliver accessible and customised financing solutions, including Shariah-compliant payables financing, receivables financing, and term financing, by harnessing digital platforms and alternative credit assessment methodologies. "Funding Societies will offer these solutions to eligible entrepreneurs, with a targeted focus on vendors supporting government entities, government-linked companies, and multinational corporations,' it said. The signing ceremony was officiated by Funding Societies, group chief executive officer Kah Meng Wong, and SME Bank, group chief digital and technology officer Hairil Izwar Abd Rahman. Funding Societies, Malaysia country head Chai Kien Poon, said the agreement reflects a shared commitment to improving financial access for local businesses. "By integrating with CEDAR's digital platforms and reaching entrepreneurs through nationwide outreach, we hope to make financing more inclusive, fast, and tailored to the evolving needs of SMEs in Malaysia,' he said. Meanwhile, CEDAR, chief executive officer Amirul Imran Ahmat, said that as the training and capacity-building arm of SME Bank, the organisation remains committed to providing beyond-financing support to homegrown entrepreneurs throughout their lifecycle. He said the partnership with Funding Societies combines access to capital with SME Bank's digital tools and expertise to support SME growth in a dynamic economy. "Funding Societies' customers can also leverage our robust digital platforms, particularly ScoreXcess - our financing portal for small and micro enterprises, powered by CEDAR. "Together, we are committed to accelerating entrepreneurial development and delivering tailored support for micro, small, and medium enterprises (MSMEs),' he added. - Bernama
