PENANG — The Federation of Malaysian Manufacturers (FMM) Penang branch chairman Khoo Cheok Sin is in full support of Sin Chew Business Excellence Awards organised by Sin Chew Daily as a platform to encourage local SMEs to scale greater heights in their business operations while striving to establish more comprehensive corporate governance.

He said more than half of FMM Penang's 326 members are SMEs, many of which have participated and won many awards here and abroad, adding that it is appropriate for Sin Chew Daily to organise the Awards as the media organisation has in its finger tips the culture of SMEs in Malaysia.

Khoo said during the media conference at the Sin Chew Business Excellence Awards roadshow that Sin Chew Daily has been persistently neutral and incisive in its news reporting, especially commercial news, adding that more FMM member companies should be encouraged to take part in this event.

Sin Chew Business Excellence Awards roadshow was held at Lecture Theatre 2, University Wawasan at 2pm on April 19. The speakers were Grant Thornton Malaysia partner Desmond Tan and senior executive director Seah Siew Yun, who spoke on "corporate financing" and 'taxation" respectively.

Details please visit http://www.sinchew.com.my/sinchewbusinessawards or call 04-2226666.

Touted as one of the most reputable and coveted award presentation events in the country, Sin Chew Business Excellence Awards emphasises corporate strategic management, with small and medium-sized enterprises being the principal targets and invited non-SMEs the secondary targets.

The highest honours for small and medium-sized companies in Malaysia, the Awards pays tribute to SMEs with outstanding performances in significant business management codes of conduct which are indispensable strategic factors in the sustained development and organisational growth of these companies.

Sin Chew Business Excellence Awards can be seen as a form of certification and recognition of operational excellence in the rapidly changing business environment here and globally, allowing more SMEs to learn from the successful instances and profit models of award recipients while inspiring other businesses to set their sights on the global marketplace and showcase their branding.

SMEs constitute an emerging industry in the country, contributing almost 32.5% to the country's GDP. This sector is expected to grow between 4.5% and 5.0% in 2012.

As the backbone of the national economy, SMEs have major influences over the day-to-day living of ordinary Malaysians. As the government is currently striving to develop the SME sector, Sin Chew Business Excellence Awards should serve to encourage and inspire more SMEs to continually contribute towards the country's economic development.

How to register:

– Registration fee: RM890.00

– All small and medium-sized enterprises registered under the Companies Act 1965 can participate in the contest or evaluation. Companies not eligible to take part in this event are: local subsidiaries of multinational corporations, public companies listed on any stock exchange, subsidiaries of publicly listed companies, except by invitation.

– Non-listed holding companies and their subsidiaries are eligible to take part in the contest.

– As for chain businesses, only franchisors who are Malaysian nationals, are eligible while franchisees are not.

– Contestants for the New Business Excellence Award must be small and medium-sized companies in operation for less than three years.

– The annual turnover of manufacturing companies and agriculture-based manufacturers must be in the range of RM1 million to RM50 million, with the number of full-time employees between five and 150.

– As for contestants in the services, primary agriculture and information technology sectors, their annual turnover must be between RM500,000 and RM25 million, with the number of full-time employees between five and 50.

– All contestants must submit complete and audited financial reports for the past three years (2010, 2011 and 2012).