PENANG — Penang Chinese Chamber of Commerce president Datuk Seri Choot Ewe Seng said, it is timely for Sin Chew Daily, as a reputable and authoritative media company, to organise the much coveted Sin Chew Business Excellence Awards to encourage local enterprises to work harder to advance their businesses while spearheading greater development of the national economy.

Choot said during a media conference at the Sin Chew Business Excellence Awards roadshow that the event is one that will truly benefit Malaysian businesses. Other than showing appreciation for the contributions of such companies, the awards would also project these companies as models for other companies to emulate, hence lifting the standards of their business operations to higher levels.

He urged members of trade organisations to actively take part in the roadshow in order to get a better insight of the event. Eligible member companies are encouraged to register for the awards which will include, among others, Retail Excellence Award, Product & Service Quality Excellence Award and Information Technology Excellence Award.

The 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):

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).