KUALA LUMPUR: SME Association of Malaysia (SME Malaysia) today launched the 2023 edition of the Platinum Business Awards ( PBA ) and called for entries from small and medium scale entrepreneurs to vie for honours in the prestigious awards.
The event was officiated by YB Datuk Ewon Benedick, Minister of Entrepreneur and Cooperatives Development.
The PBA 2023 awards presentation ceremony will be held on Nov 10, 2023 at the Malaysia International Trade and Exhibition Centre (MITEC).
The Platinum Business Awards (PBA) have been growing stronger in name and in sponsorship every year.
It is a premium awards platform for SMEs to shine. It undergoes a strict selection process – involving an assessment team, auditors and a Selection Board – ensuring only the best will win.
SMEs are awarded based on their talent and performance. As the awards organiser for more than 20 years, SME Malaysia has pledged to continue to maintain the integrity and good name of the PBA in the years to come.
Mr Ding Hong Sing, National President of SME Malaysia, said in his speech at the launch that SMEs in Malaysia need funding for automation and digitalisation to increase output and exports.
Automated production lines and machinery are expensive and funding grants are still not enough, given the number of SMEs in Malaysia, he said.
In this respect, Mr Ding has asked government to consider increasing funding to RM2 billion to help SMEs to upgrade their facilities.
In addition, he also urged local banks to be simplify their loan application procedures and be quicker in disbursing loans.
Mr Ding also said SME Malaysia is working with government ministries and stakeholders to produce SME-focused ESG guidelines, frameworks for local SMEs, and practical timelines for ESG adoption.
He hoped that government agencies entrusted with undertaking ESG programmes would be able to increase their ESG awareness programmes for business owners, especially to overcome the three challenges of uncertainty, limited knowledge and financial constraints for ESG adoption.
Datuk Ada Poon, National Vice President of SME Malaysia cum Organising Chairlady of PBA 2023 said the theme for this year’s awards is Innovation, Transformation, and Internationalisation.
The theme reflects the current aspirations of SME Malaysia to further advance the interest of SMEs in the country, she said.
Innovation was chosen to showcase the capability of many businesses in Malaysia to be agile and creative after having recovered from the difficulties of the Covid-19 pandemic. Transformation reflects the need for businesses to change in the face of new challenges while Internationalisation is to encourage more SMEs to establish business relationships with foreign partners and facilitate better access to international markets.
This year, aside from local SMEs, SME Malaysia is opening up its awards to beyond national borders to foster better economic relations with other countries.
In this regard, global entrepreneurs from China, Indonesia, Vietnam, Cambodia, Taiwan, South Korea and other countries are welcome to participate in the awards in the foreign category as part of our hopes to develop better business networks with global SMEs.
Through this theme, Datuk Ada Poon said SME Malaysia wished to align SMEs towards the direction of using innovation, transformation, and internationalisation to develop businesses and stimulate economic growth not only for themselves but also the country.
PBA2023 major sponsors and partners including Hong Leong Bank, EcoWorld, Manulife and while co-sponsors are Fusionex, Alliance Islamic Bank, BoostBiz, CIMS, EAS, Felement, Gotraz, Homevest, MAE Global, MIDF, RAM Credit, SBH, SIRIM, SYK Solutions, Media Prima, Omnia, Asia Media, MITEC, Cheng & Co, CTOS, OE EduGroup, TAKEO Malaysia, Gdex, and Mins Studio.
Nominations are open now till 15th August 2023.
For more information, please visit SME Malaysia Official Website.