04-08-2025
CELEBRATING FINANCIAL SYNERGY
CREDIT Guarantee Corporation Malaysia (CGC), a cornerstone of the nation's financial ecosystem for 53 years, recently celebrated the 30th edition of its annual awards, providing a platform to reflect on its enduring mission and future direction.
The CGC Awards 2024 - 30th edition, held at Hilton Kuala Lumpur on July 31, were attended by key figures including Bank Negara Malaysia governor Datuk Seri Abdul Rasheed Ghaffour.
'I would like to thank CGC for their continued role in strengthening access to financing for the unserved and underserved,' said Abdul Rasheed in his special address during the event.
'CGC's partnership with financial institutions has enabled tens of thousands of businesses to access financing they otherwise might not have received. These efforts help sustain jobs, protect livelihoods and ensure viable businesses do not get left behind.
'Looking ahead, let us continue to build a financial ecosystem that not only supports firms at their beginnings, but accompanies them, through every stage of their growth.'
More than 280 distinguished guests, including top representatives from financial institutions (FIs), Islamic financial institutions (IFIs), development financial institutions (DFIs), mid-tier companies (MTCs), strategic partners, government agencies and award-winning MSMEs also attended.
The event highlighted CGC's evolution from a traditional guarantor to a dynamic institution dedicated to the growth and development of micro, small and medium enterprises (MSMEs).
In the past three decades, CGC's philosophy has focused on nurturing MSMEs from their initial stages to full maturity, providing crucial financial support for businesses to thrive independently.
This approach has yielded significant results, with over 16,000 MSMEs graduating from CGC's guarantee support between 2019 and 2024 alone.
This success metric, where CGC is 'happy to lose its customers', signifies the institution's commitment to fostering self-sustaining businesses.
'As inclusivity remains a key mandate for CGC, we will continue to encourage more substantive and participative forms of business partnerships,' said CGC chairman Mohammed Hussein.
CGC chairman Datuk Mohammed Hussein emphasised that resilience in business starts with hands-on leadership and deep operational understanding.
'Resilience often begins with strong, hands-on leadership and a deep understanding of a business's internal dynamics, customer needs, supply chain and the broader ecosystem,' he said.
'Business sustainability hinges on management's ability to navigate these interdependencies — a competency that comes from active participation, not passive ownership.
'As inclusivity remains a key mandate for CGC, we will continue to encourage more substantive and participative forms of business partnerships between races and communities across the economic supply chain.'
The institution's commitment to collaboration and inclusivity is evidenced by a slew of initiatives launched last year.
These strategic partnerships include working with the Investment, Trade and Industry Ministry to streamline government grants, collaborating with the Securities Commission to explore market-based funding for MSMEs and a groundbreaking partnership with Visa and Alliance Bank to introduce the country's first guaranteed MSME credit card.
Additionally, CGC Digital, the corporation's fintech subsidiary, has forged alliances with digital-first players, like Funding Societies Malaysia and Boost Bank, to provide seamless and accessible digital financing solutions.
'These are not just programmes, but pathways to resilience and sustainability,' Mohammed Hussein added.
In the pursuit of inclusive and sustainable growth, CGC has also prioritised green and women-led enterprises.
To date, it has channelled over RM2.4bil to support high-tech and climate-aligned MSMEs.
The BizWanita financing scheme, designed to empower women entrepreneurs, has benefitted 1,163 accounts with over RM77mil in financing, reflecting the growing recognition of women-led businesses as a vital economic force.
Looking ahead, CGC is actively shaping the next generation of entrepreneurs through its CGC100 Entrepreneurship Programme, in partnership with the Education Ministry and Pintar Foundation.
The programme instils crucial business knowledge and values in young entrepreneurs, particularly from underserved communities.
From its initial cohorts, many participants have observed improved business performance and the creation of new jobs, showcasing the programme's potential impact.
Since its inception in 1972, CGC has facilitated over 540,000 guarantees and financing to MSMEs valued at over RM100bil.
A night of recognition
At the CGC 30th Awards 2024, 28 award winners, comprising 24 recipients from FIs, MTCs and MSMEs, were honoured for their achievements across three categories, putting a spotlight on exceptional contributions in financing, innovation and entrepreneurial success.
CGC president and chief executive officer Datuk Mohd Zamree Mohd Ishak said MSMEs are the backbone of our economy, and CGC is proud to be entrusted with the mandate to support and empower them.
'This annual awards ceremony is our way of acknowledging the invaluable support from our strategic partners, and of celebrating the achievements of Malaysia's competitive and dynamic MSMEs.
'As we continue to navigate through these challenging times, CGC remains firmly committed to advancing the financial inclusion agenda — ensuring that all deserving MSMEs receive the support they need to thrive,' he said.
Over 280 distinguished guests from various financial institutions, partners and MSMEs gathered during CGC's 30th Awards 2024.
At the ceremony, CIMB Islamic Bank Bhd was honoured as the Best Financial Partner, Top Islamic FI Partner and Top Bumiputra SMEs FI Partner.
Top Conventional FI Partners included Alliance Bank Malaysia Bhd , OCBC Bank (Malaysia) Bhd and Standard Chartered Bank Malaysia Bhd.
Additionally, 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.
CGC also awarded special recognition to Bank Muamalat Malaysia Bhd for New Strategic Partnership, and Alliance Bank Malaysia Bhd, Bank Kerjasama Rakyat Malaysia Bhd and Bank Simpanan Nasional for Innovation Excellence.
Meanwhile, the Merdeka Awards, which recognise businesses that lead substantive partnerships between races and communities, were presented to Serai Group, Keyfield International Bhd , VSD Automation Sdn Bhd, Gading Kencana Sdn Bhd and Mydin Mohamed Holdings Bhd.
The Merdeka Digital Excellence Special Recognition was awarded to Shopee Mobile Malaysia Sdn Bhd for the company's efforts in empowering MSMEs through digital platforms.
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.
Finally, 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, upon completion of the 24-month CGC Development Programme.
In response to the recognition, CIMB Islamic Bank Bhd group chief executive officer Novan Amirudin said that the awards are a crucial initiative to advance business progress in the country.
'We are honoured to partner with CGC in this extremely important endeavour. At CIMB, our purpose is to advance our customers and society, and to do that, we need to work together with MSMEs so that they can grow and thrive,' he said.
'These awards are a direct reflection of our purpose, and the reason why we embark on this with CGC.'
