SMALL and medium enterprises (SMEs) in the country are still on the runway for growth despite the European sovereign debt crisis and a more challenging marketplace.
According to a report by SME Magazine, the average revenue of the country’s top 100 SMEs this year is RM11.2 million, with median revenue of RM8.6 million.
The SME 100 report also shows that revenue grew by 9.8 per cent last year for the top 100 companies, while revenues are projected to grow between 10 and 150 per cent for the current year.
This is in stark contrast to the five per cent gross domestic product (GDP) growth projected by the government for this year.
“Whilst many are already feeling the effects of declining consumer confidence, SMEs in Malaysia remain bullish about the economy,” SME Magazine group publisher and editor-in-chief William Ng said.
Ng, in a statement, said a total 280 companies responded to the programme, with the top 100 selected among the respondents based on both quantitative and qualitative criteria.
The quantitative criteria included revenue and profit growth, assets, export sales and investment in capital, training and research and development (R&D).
The qualitative criteria, meanwhile, included business outlook, innovations, market share, IT usage, corporate social responsibility, training, R&D efforts and others.
“Companies are listed according to their respective industry groupings,” Ng said.
Among those on the list are Naza Trutti Frutti (Malaysia) Sdn Bhd, Legasi Ulung Sdn Bhd, Mavisco (M) Sdn Bhd, and Tech-Lab Manufacturing Sdn Bhd. Others include Lord’s Tailor Sdn Bhd, Music Valley Sdn Bhd, Noor Arfa Holdings Sdn Bhd, Skynet Worldwide (M) Sdn Bhd and Vista Laser Center Sdn Bhd.
Moving forward, Ng said, what most SMEs would need was better access to financing, technology and talents.
Among the government’s facilities available to the SMEs are a RM2 billion syariah-compliant SME Financing Fund, a RM500 Commercialisation Innovation Fund and a RM100 million SME Revitalisation Fund.
SME Magazine has been in publication since 2007 and its circulation has reached 46,000 a month. The magazine is published by Business Media International, Southeast Asia’s largest B2B publishers.
Read more: SMEs on the path to further growth http://www.btimes.com.my/Current_News/BTIMES/articles/SME100/Article/index_html#ixzz1fdlJzKRy