Top 100 SMEs Defy Economic Headwinds to Post Triple-Digit Growth

Author: SME Magazine / 2023-07-27 19:53 / Source: SME Magazine

Top 100 SMEs Defy Economic Headwinds to Post Triple-Digit Growth

Strong SME growth recorded,especially in construction and services sector

Successful SMEs celebrated at SME100 10th Anniversary ceremony and gala dinner

KUALA LUMPUR,Malaysia,Dec. 17,2019 --Despite regional and global economic uncertainty,the small and medium enterprises (SME) sector in Malaysia remains extremely buoyant,with SMEs registering a 103.41 percent growth in revenue and a 125.48 percent growth in profit.

Top 100 SMEs Defy Economic Headwinds to Post Triple-Digit Growth

SME100 celebrating 10th anniversary together with winners of SME100 2019

These numbers were reported by the SME100 survey,which is conducted yearly by SME Magazine. Over 800 SMEs were surveyed across 18 industry sectors,with financial results audited by official auditor Baker Tilly and creditworthiness checked by official credit reporting agency,CTOS Data Systems Sdn Bhd.

The survey also recognised the top 100 companies by business performance with the SME100 Fast Moving Companies Awards. Both the survey and the Awards have been held yearly since 2009,making this year the 10th anniversary of the Awards.

"Malaysian SMEs have defied expectations to post rapid growth overall. According to the Department of Statistics Malaysia,the SME sector expanded by 6.2 percent last year,outperforming overall GDP growth of 4.7 percent. It is expected that this trend continues this year – led by the top 100 SMEs celebrated here at the SME100 Awards tonight," said Dato' William Ng,group publisher of Business Media International,the publishers of SME Magazine.

"Over the past 10 years,some 1,000 SMEs won the awards,and many have gone on to be listed,including the likes of Serba Dinamik,Inari Amertron,myNEWS.com,Solarvest and many more. Among the winners was a small startup (then),called MyTeksi,which is now Southeast Asia's first decacorn,Grab. The SME100 became both a symbol of success and a platform for growth," Ng added.

In conjunction with the 10th anniversary of the Awards,a ceremony and gala dinner was held at the Kuala Lumpur Convention Centre to announce the winners and celebrate their achievements. The Awards ceremony was officiated by guest-of-honour Dr Ong Kian Ming,Deputy Minister of International Trade and Industry.

In officiating the awards,Dr Ong exhorted the virtues of trust in business. "When it comes to the arena of politics,many people say that politicians cannot be trusted. So,to keep it consistent,we really have to mean what we say,and say what we mean. Trust also has to be built from within. If we can have a company where there is trust among all the stakeholders,among all the employees,as well as the management,then you'll be able to have a business which others can trust as well," he said.

Construction,Services Sectors Lead

Among the winners that make up the SME100 Awards,businesses from the Construction,Property Development and Building Materials sector,as well as the Professional and Business Services sector make up the highest number at 14 percent. This is followed closely by the Healthcare,Pharmaceutical and Biotechnology sector and Telecommunications and ICT at 12 percent. At third place is the Education and Training sector and the Personal Services sector at 7 percent.

Rapid growth of the Construction sector has propelled it to the top spot this year. The Professional and Business Services sector kept its joint top spot from last year,propelled by its relative resilience and variable costs structure.

Top 10 SMEs Announced

While the top 100 companies in the survey were selected to receive the SME100 awards,the most outstanding 10 SMEs were also named for their exceptional results and resilience. They are (in alphabetical order):

Bericap Malaysia Sdn Bhd

Bestari Sales & Marketing Sdn Bhd

Bintang Bulk Mover Sdn Bhd

CK Packaging & Plastic Industries Sdn Bhd

DC Logistics Sdn Bhd

Haily Construction Sdn Bhd

IPG Asset Solutions Sdn Bhd

Oiltek Sdn Bhd

Sunray Construction & Interior Sdn Bhd

Vostron Technology Sdn Bhd

SME Icons Recognised

To further celebrate the 10th anniversary of the SME100 Awards,the SME100-- AFFIN SME Icon Award was awarded to recognise strong icons and success stories among SMEs.

This year,the SME Icon Award was awarded to two recipients: convenience store operator myNEWS Holdings Berhad and biscuit manufacturer Julie's Manufacturing Sdn Bhd. Their products and services are uniquely Malaysian in terms of ownership,development and/or cultural linkage,while demonstrating strong growth and leadership in the market.

Also present at the SME100 Awards were luminaries and VIPs such as Koay Chiew Guan,national president of the Small and Medium Enterprises Association (SAMENTA); Rizal Nainy,chief officer,implementation & monitoring at SME Corporation Malaysia; Sivasuriyamoorthy Sundara Raja,executive director,investment and promotion of the Malaysian Investment Development Authority (MIDA); Megat Mohd Yatim,acting chief executive officer of Teraju,and many more.

The SME100 Awards are sponsored by Affinbank Group and Time dotCom,with Turkish Airlines as Official Airline and Volkswagen as Official Mobility Partner.

Comments from Winners

Grownce Sdn Bhd

Steven Cho Soon Kai,director of sales & marketing

"It is a huge honour to receive the SME100 Award. I would like to thank our partners and customers especially for their unwavering support. Without them we would not have the capability nor the opportunity to be here. We hope to encourage other SMEs to put in the effort and not to give up so that they can reach the top like us as well."

Germax Sdn Bhd

Karen Pua,director

"This is a great show and a great way of putting the name of SMEs out there to show that even smaller companies are able to create a respectable impact on the economy and industry landscape. It is also a wonderful feeling to be able to gain recognition for all the hard work that we SMEs put in over the years to make a name for ourselves."

School of Life Sdn Bhd

Elvina Chua,co-founder

"This is a really great platform for Malaysians to show what their business is about,the hard work that has been put into it,and all the ideas and are a result of all the effort invested into their companies. The awards really show what entrepreneurs can do,serving as a role model for SMEs both within Malaysia and beyond."

Vostron Technology Sdn Bhd

Anthony Wong Kok Hing,operations manager

"To be able to receive the SME100 Award is both very encouraging and a huge motivational booster for us. We believe the awards are a fantastic way to introduce SMEs and the work they do to a wider audience. I hope we can serve as an inspiration for other SMEs to strive to be the best they can be."

Sunray Construction & Interior Sdn Bhd

Tony Leong,director

"The prestige and recognition that comes with receiving the SME100 Awards is definitely something that will make heads turn. The awards is also an excellent platform for SMEs as it draws attention to their limitless potential; thus granting them the opportunity to garner the support they need to excel even further."

Julie's Manufacturing Sdn Bhd (winner of SME100-- AFFIN SME Icon Award)

Su Chin Hock,managing director

"We at Julie's have made quite a number of great achievements over the years. However,I would say that being able to say that we,as a Malaysian company,is able to produce world-class standard products that can compete with the best-of-the-best; all the while sending the message that Malaysian brands are on par with the rest of the world."

myNEWS Holdings Berhad (winner of SME100-- AFFIN SME Icon Award)

Dang Tai Luk,managing director

"One of the greatest achievements that we are proud of is getting the company listed and our profile out there for all to see. Our company continues to grow and touch lives throughout the country,providing both quality products and convenience to Malaysians."

About Business Media International

Business Media International is a leading business-to-business media owner with products ranging from printed publications and online portals to exhibitions and business awards. These include brands such as SME Magazine,HR Asia,Capital Asia,Mega Career Fair,SME Solutions Expo,Post Graduate Education Fair,ITX Asia,SME100 and more.

SUMMARY OF FINDINGS

Table 1: SME100 in Brief

Number of Industries

Average revenue

RM14,583,715.71

Average revenue growth

103.41%

Average net profit growth

125.48%

Table 2: SME100 Winners by Industry

Agriculture,Livestock,Plantation and Commodities

Automotive