The establishment of small and medium-sized enterprise (SME) model smart factories opened for educational tours in hopes to assist SMEs in similar industries to learn first-hand about automation, digitalization and high-technology in smart manufacturing. According to SME Association of Malaysia (SME Malaysia) National President Ding Hong Sing, experiential learning would facilitate SMEs in establishing their smart factories.
“Sharing on challenges faced and learning points on implementation of factory infrastructure by the factory owner can prove invaluable to other SMEs embarking upon Industrial Revolution 4.0,” National President Ding Hong Sing elaborated.
Ding had proposed the model smart factory concept at the association’s Platinum Business Awards 2023 (PBA2023) Presentation and Gala Dinner at MITEC, Kuala Lumpur, attended by Deputy Minister of Entrepreneur and Cooperatives Development YB Senator Puan Saraswathy Kandasami as guest-of-honor. He also thanked the Government for allocating RM900 million in loans under Budget 2024 to finance SME automation and digitalization projects while calling for simple and transparent funding guidelines, supported by special interest rates below 2 percent to make loan repayments affordable for SMEs.
Major event sponsors for PBA2023 are Hong Leong Bank, Eco World Development Group Berhad, Manulife Insurance Berhad, Alliance Islamic Bank Berhad, Boost Biz and CIMS Tech Sdn Bhd with Fusionex as technology partner, Fine Paper Takeo (M) Sdn Bhd as paper sponsor, MITEC as strategic venue partner, GD Express Sdn Bhd as courier partner and Cheng & Co Group as independent auditor.
The largest SME association in the country, SME Malaysia was founded in 1995 to provide support, services, and solutions to SMEs and promote the best interests of the SME community.
Established in 2002, the PBA is a premium, annual awards platform recognized for its rigorous selection of award recipients involving an internal assessment committee, an independent auditor, and a Selection Board comprising industry leaders.
Datuk Tan Seng Kit received the Platinum Entrepreneur Award while the Outstanding Achiever Award went to Fajarbaru Builder Group Berhad and MK Curtain Berhad. The SME Best Overall Award went to Cooltec Industries Sdn Bhd, Just Supply Chain Sdn Bhd, and SOCC Holdings Sdn Bhd while recipients for the Asia Pacific Outstanding Enterprise Award category were Chou Yen Attorneys-at-Law, Luvaii Aesthetic Medical Group, and Overseas Cambodian Investment Corporation.
PBA2023 Organising Chairlady Datuk Ada Poon stated, “Business is the lifeblood of Malaysian SMEs and we at SME Malaysia believe that our efforts to discover companies and individuals who have improved their business performance will count towards furthering the growth and development of Malaysian businesses.” She disclosed there were a total of 107 award recipients this year, comprising 95 recipients for awards by nomination and 12 by invitation.
“After Kuala Lumpur and Selangor, Sabah has the third highest number of winners; it is truly wonderful to witness such achievements by our East Malaysian friends. Winning the PBA will help award recipients tap into greater market access and brand recognition potential,” she added.